Legal Question in Wills and Trusts in Illinois
Our father died without a will. He owned a condo in cook county, Chicago Illinois. He lived in Virginia. The 3 of us, (two sisters and a brother) inherited his properties in VA and the one in IL. The condo in IL was purchased for my sister and we would like her to own it, we do not want any interest in it. The mortgage is in my dads name. The mortgage is in the process of being transferred by the mtg. company. We provided death certificate and related paperwork to them. How do we transfer the deed to my sister? Do we HAVE to transfer the deed now? Is it legally necessary?
2 Answers from Attorneys
Thank you for your question. In Illinois, in order to transfer assets of an individual who died without a will, one would likely need to open a probate case. Essentially, you require court approval of any transfer. Please feel free to email me with any further questions: [email protected]
It might be possible to transfer the ownership with a "bond in lieu of probate." This is a mechanism that an Illinois title company would use to tranfer probate property outside of opening a probate estate.
Let me know if I can assist.
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