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phondelia · Joined: 25 Sep 2009 Posts: 6 2.05 Dollars($)

My wife and I were divorced; I executed a quitclaim deed, transferring my rights and interest in our home to her. We got back together a few years later (did not remarry and Illinois does not recognize common law marriage) and have been together now for over 10 years. We would like to be sure that if anything happens to either of us ownership of the house automatically transfers to the other outside of probate. Can she quitclaim her interest to herself and me? We would like tenancy to guarantee either ofus rights of survivorship.

gmakerley · Posted: Fri Sep 25, 2009 2:41 pm Post subject:

what you propose makes sense. you wouldn't be hurting yourself, however, to ask that same question of a lawyer in your area. in that fashion, you'd be able to also clear up the survivorship question. i'm not a lawyer, don't even play one on or off tv, so you need to go to the source for legal expertise.

phondelia · Joined: 25 Sep 2009 Posts: 6 2.05 Dollars($)

The home is subject to a small mortgage.

phondelia · Joined: 25 Sep 2009 Posts: 6 2.05 Dollars($)

I was hoping there might be a lawyer who could answer that question.

gmakerley · Posted: Fri Sep 25, 2009 2:56 pm Post subject:

i'm not sure how many lawyers we have who travel these corridors; i know of one...you can try and send a private message to him (jheard).

the lender holding that mortgage would like to know about your transfer of title, but frankly if you do nothing but pay the mortgage until it's gone for good, they won't much care.

phondelia · Joined: 25 Sep 2009 Posts: 6 2.05 Dollars($)

When we refinanced, they asked if I wanted to be on the mortgage. We have both been doing business with the bank for many years.

As you can probably tell, I was just trying to get some free advice. LOL

Thanks for you input.

gmakerley · Posted: Fri Sep 25, 2009 3:07 pm Post subject:

nothing wrong with free advice - i seek it all the time too! given your relationship with the bank, it would seem they won't much care about what you do.

phondelia · Joined: 25 Sep 2009 Posts: 6 2.05 Dollars($)

No, they would not care. We hold joint checking and savings accounts with them. The check they receive every month has my name on it, too. Our LTV on the house is only about 12%. We would have remarried, but my wife can not get out of the house without great difficulty, and we never thought it was important. The divorce was to protect the family from risk I was taking in business.

gmakerley · Posted: Fri Sep 25, 2009 3:18 pm Post subject:

not bad

phondelia · Joined: 25 Sep 2009 Posts: 6 2.05 Dollars($)

Thanks for the input, George.

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How can another person be added to the deed?