house
In America, the ability to own a home is part of the American Dream. In furtherance of this, there are numerous laws which encourage home ownership such as the mortgage interest deduction and the concept of the homestead exemption. What…
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A house is a peculiar asset in an Illinois divorce. A house is usually the biggest asset and the biggest debt that two married people share. Moreover, a house’s mortgage is usually the biggest monthly expense the parties share. Furthermore,…
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For most divorcing couples the marital home is the most valuable asset they have. If that house was purchased while the couple was married, the house is a marital asset and therefore divisible in a divorce. Even if the house…
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Owning a house is a big deal, financially. So, what happens to your house during a divorce in Chicago, Illinois? What Happens To The Marital Home During An Illinois Divorce? Most people’s biggest asset is their house. But, the marital…
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Living with someone else isn’t easy. Living with someone who you are divorcing is even harder. How do you live in the same house as your spouse during an Illinois divorce? My divorce clients first questions are usually, “should I…
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When non-marital funds are used to purchase the family home in a Chicago divorce, it is difficult to determine exactly what happens to that marital home in the event of a divorce. In short, it depends how the family home…
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