What does this paragraph in a deed about homestead mean?
Full Question:
The attorney has prepared a quit claim deed from Step Mother to me but what does this paragraph means:
"This property does not constitute the homestead of the Grantors and neither signature or spouse nor waiver of homestead exemption is required."
04/08/2017 |
Category: Real Property ยป Homestead |
State: Illinois |
#35365
Answer:
This sentence is just saying this property is not homestead property and therefore the signature or waiver of a non-owner spouse is not required. When homestead property is in the name of one spouse the that spouse wants to sell, that spouse cannot do so unless the other spouse executes a waiver. This is to protect spouses and their homes.
Since this property is not homestead this paragraph just confirms that it is not homestead.
This sentence is just saying this property is not homestead property and therefore the signature or waiver of a non-owner spouse is not required. When homestead property is in the name of one spouse the that spouse wants to sell, that spouse cannot do so unless the other spouse executes a waiver. This is to protect spouses and their homes.
Since this property is not homestead this paragraph just confirms that it is not homestead.
