Difference between revisions of "Marital Rights in Illinois"
Davidjenkins (talk | contribs) (→Overview) |
Davidjenkins (talk | contribs) (→Overview) |
||
| Line 1: | Line 1: | ||
==Overview== | ==Overview== | ||
| − | Illinois recognizes the existence of a homestead right for non-titled spouses for their primary residence. As a result, a non-titled spouse must either join in any conveyance or mortgage of the primary residence or execute a separate waiver releasing their homestead rights in a given property. | + | Illinois recognizes the existence of a homestead right for non-titled spouses for their primary residence. As a result, a non-titled spouse must either join in any conveyance or mortgage of the primary residence or execute a separate waiver releasing their homestead rights in a given property. The waiver must be specific to the transaction, must be executed by both spouses, and must be recorded as part of the deed or mortgage. No joinder is required from a non-titled spouse in the case of any real property that is not the primary residence. |
===Sources=== | ===Sources=== | ||
Revision as of 05:20, 21 June 2019
Contents
Overview
Illinois recognizes the existence of a homestead right for non-titled spouses for their primary residence. As a result, a non-titled spouse must either join in any conveyance or mortgage of the primary residence or execute a separate waiver releasing their homestead rights in a given property. The waiver must be specific to the transaction, must be executed by both spouses, and must be recorded as part of the deed or mortgage. No joinder is required from a non-titled spouse in the case of any real property that is not the primary residence.
Sources
- []. - Dower and Curtesy Abolished
- []. - Homestead Rights
- [1] - ATG Article
Compliance
Forms
- Waiver of Homestead Rights
Searching
Examination
- [...]
Curative
You would not need to require a waiver of homestead or joinder on a second home in IL if it can be established that the subject property is not a homestead. Usually, an affidavit from the title holder will suffice; alternatively, if you receive confirmation (in the form of an email) from the non-title holding spouse that the property is not a homestead, that would work as well.
Underwriting
Production
Closing & Escrow
Recording
Pricing
Common Law Marriage
Common Law Rights
Community Property
N/A. Community Property has never existed in Illinois.
