Legal Question in Wills and Trusts in Illinois
Rental foreclosure and royalties
If a rental home goes into forecloser and the husbands name is the only name on loan and the wife receives an inheritance of natural gas royalties, can the loan company/bank take the royalties from the wife?
Asked on 7/10/08, 10:29 pm
1 Answer from Attorneys
John Steele
Steele Law Firm
Re: Rental foreclosure and royalties
The home is owned by both spouses regardless of whose name is officially on the loan doc.
Answered on 7/14/08, 10:29 pm
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