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Updated over 11 years ago,

User Stats

17
Posts
1
Votes
Andrew Stoll
  • Residential Real Estate Broker
  • Elgin, IL
1
Votes |
17
Posts

Does a QUIT CLAIM buy you a couple years?

Andrew Stoll
  • Residential Real Estate Broker
  • Elgin, IL
Posted

As I'm doing a title search, I come across a (Illinois) property where there have been 3 LPs in the last six years, or so. It seems that every time an LP is recorded, the person who holds interest, quit claims to someone else, which seems to buy the owner another couple years.

How many times can the owner(s) quit claim to someone, in effect, causing the lender to restart the foreclosure process all over again?

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