Legal Question in Real Estate Law in Illinois

I bought my home in 2004. I married in 2007. My husband is not on the mortgage. My husband still lives and works in Michigan. He does not own a home anywhere. I filed bankruptsy in 2010 and can not quality for refinancing to a lower interest rate. My question is...Can I legally sell/short sale my home to my husband?


Asked on 10/25/11, 1:29 am

2 Answers from Attorneys

Naheed Amdani Law Offices of Naheed A. Amdani, P.C.

Typically, no. Most lenders require short sales to be arms length transactions between parties who are not related or otherwise connected (i.e. a friend helping you out is not acceptable either).

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Answered on 10/25/11, 6:53 am
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Legally, yes. Will a lender accept a short sale to your husband, maybe, but not likely for the reasons set forth by Mr. Amdani. However, I imagine it is possible if you have tried selling at market rate without success and the lender agrees.

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Answered on 10/27/11, 1:07 am


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