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Title Insurance, Real Estate and Divorce
In regard to any real property in a divorce proceeding, with respect to which there are title policies, that jointly insure both parties involved in a divorce, same should be taken into consideration in regard to any Judgment of Dissolution of Marriage or Marital Settlement Agreement and appropriate action should be taken with any title company to make sure there is an insurable interest or if any changes are recommended by the title company after the dissolution of marriage proceeding.
When the parties cannot reach an agreement on property division, the Illinois court will divide all the property and debts for them equitably. When a property settlement is finally reached, it must be in writing and signed by both parties.
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