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home title: Adding Name To Deed? Follow Condo Association Rules - 09/09/10 12:27 PM
Clearing up a falsehood about adding a name to a deed:
Q: I bought a condo in Chicago. I want to put a family member on the deed. I was told that Illinois law does not allow me to put a family member on the title to the condo unless the person is also on the loan. Is this true?
A: No. You can add anybody you like to the title to your property subject to a couple of rules that generally apply everywhere. If you own a condominium, your condominium association may have rules that prohibit you from adding a … (0 comments)

home title: How To Sell A Property With Multiple Owners - 03/15/09 10:50 PM
As you get older, in order to protect your property, you may want to transfer property titles to your children's names. When you transfer title to property before you die you may see your children fight about the property and whether to sell it.
If your children feel one of their siblings is getting a free ride or cheating, the property situation could get ugly. To sell the property your children may have to involve a real estate attorney who can help with a partition lawsuit or enable swapping property.
Here's the story of one Think Glink reader, also available on … (1 comments)

home title: Home Inspection Problems May Lead To Seller Disclosure Lawsuit - 02/28/09 01:39 PM
When you're buying a home you should have at least one home inspection that includes a look at the septic system. What's found during that home inspection depends on the caliber of the home inspector you hire.
If you discover problems with your septic system after the home inspection and after you've taken possession of the home, it may be a case of inadequate seller disclosure and you may be able to sue the seller for not telling you about the septic system problems.
It happened to one of my readers...
Question: Two years ago, I bought a home to remodel … (2 comments)

home title: Selling Home Could Affect Medicaid - 02/09/09 02:45 PM
Summary: When you hold the title to a home it's considered your asset and Medicaid will take that into account when determining your benefits. What can you do to avoid Medicaid putting a lien on a home that you own but don't live in? How can you ensure that a family member can continue to live there and still meet your own financial needs for elder care?
Q: A number of years ago my parents transferred title to their house to my sister and me with the understanding (not in writing) that they could continue to live there as long as … (2 comments)

 

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