Selling the house in a Chicago divorce? Keep it simple.
When a marriage ends, the house is often the largest shared asset. We give both spouses the same written offer, and the title company divides the proceeds the way your agreement or court order says.
Get one offer for both of you
No obligation. We never sell your info. Prefer to talk? Call or text (773) 825-9855.
How the house is handled in an Illinois divorce
Illinois divides marital property in “just proportions,” which is often called equitable distribution. That means fair, not necessarily 50/50. Under the Illinois Marriage and Dissolution of Marriage Act (750 ILCS 5/503), property acquired during the marriage is generally presumed to be marital. Property owned before the marriage, or received as a gift or inheritance, is usually non-marital. A house can be part of both, for example when one spouse owned it before the wedding and both paid the mortgage afterward.
When the spouses can’t agree, a judge weighs factors such as each spouse’s contributions, the length of the marriage, each spouse’s income and needs, and tax consequences. Here is how a case usually moves in Cook County.
- Filing
Divorce cases are heard in the Domestic Relations Division of the Circuit Court of Cook County, at the Daley Center or a suburban district courthouse. At least one spouse must live in Cook County, and one must have lived in Illinois for at least 90 days before a judgment.
- Financial disclosure
Each spouse files a Financial Affidavit listing income, expenses, debts and assets, including the house and the mortgage.
- Agreement or decision
You can settle the house in a Marital Settlement Agreement, or the judge decides. The court can send financial and property disputes to mediation.
- Judgment
The judgment for dissolution of marriage says what happens to the house, such as a sale, a buyout or one spouse keeping it.
The usual choices are to sell and divide the proceeds, have one spouse buy out the other, often with a refinance, or keep the house jointly for a set time. None of these is right for everyone. The right fit depends on the equity, the mortgage and what each of you can afford on one income.
Keep the mortgage in mind. A divorce judgment doesn’t change your contract with the lender. If one spouse keeps the house but both names stay on the loan, the lender can still go after both of you if payments stop. A refinance or a sale is what actually takes a name off the loan.
Divorce is hard enough without guessing about the house. Get the payoff balance and a realistic value first, so both of you are working from the same numbers.
Ways out, compared
One spouse buys out the other’s share, usually by refinancing into their own name. It works when that spouse can qualify for the loan alone and afford the upkeep.
Some couples hold the house for a set time, often with conditions written into the agreement. It takes cooperation on the mortgage, repairs and an eventual sale.
Listing usually brings the top price for a house in good shape. You’ll both need to agree on the price, repairs and showings, and on any price cuts.
We make one written offer to both of you, buy as-is and close on a date you both choose. We pay normal closing costs and all transfer taxes.
Selling before or after the judgment
There’s no single right time to sell. What matters is that both of you, and your attorneys, agree on the terms in writing.
- Before the judgment. If you both agree, you can sell while the case is pending. Your attorneys can spell out where the money goes until the judgment, such as holding the net proceeds in escrow.
- After the judgment. The judgment or Marital Settlement Agreement often says who handles the sale, how the price is set and how proceeds are split. Follow it closely, including any deadlines.
- If you can’t agree. The judge decides what happens to the house. Mediation can help you reach a deal first, often at lower cost than a contested hearing.
- Both signatures. If you’re both on title, you both sign. Even when only one spouse is on title, Illinois homestead law generally needs the other spouse to join in releasing homestead rights, so the title company will usually ask for both signatures.
How the proceeds get split
The title company is neutral. It follows the contract, the written instructions you both sign or the court’s order.
- Payoffs first. The mortgage, any home equity line, liens and back taxes are paid from the sale. In Chicago, the final water bill is paid so the city issues its Full Payment Certificate.
- Tax credit. Illinois property taxes are billed a year behind, so the buyer gets a credit for the time you owned the house this year. It comes out of the proceeds.
- The split. The net can be divided between you by separate checks or wires, as your signed instructions or the court order direct, or held if your attorneys tell the title company to.
- Separate signings. You don’t have to sit at the same table. Separate appointments or mail-away signings can usually be arranged.
- Our costs. When you sell to us, we pay normal closing costs and all transfer taxes.
We stay neutral. Both spouses and both attorneys see the same offer and the same numbers.
Three steps. You pick the closing date.
- Tell us about the house
Fill out the form or call (773) 825-9855. A few quick questions, no pressure.
- Get a fair cash offer in 24 hours
We look at the house with you and show you how we got the number. No obligation.
- Close on your date
As soon as 2–3 weeks, or take more time. We close at a local title company and pay your closing costs.
Questions sellers ask
Do both spouses have to agree to sell the house in Illinois?
If you’re both on title, you both have to sign. If you can’t agree, the judge in your divorce case decides what happens to the house.
Can we sell the house before the divorce is final?
Yes, if you both agree. Have your attorneys put the terms in writing, including where the proceeds go until the judgment.
Is the house always split 50/50?
No. Illinois divides marital property in just proportions, which means fair under the circumstances, not automatically equal.
What if I owned the house before we married?
It may be non-marital property, but if marital money paid the mortgage or improvements, the marriage may have a claim. Your attorney can explain how that works in your case.
What if only one of us is on the title?
The other spouse usually still has to sign to release homestead rights, and the title company will ask for it. Check with your attorney before signing.
Can we sign the closing papers at different times?
Usually yes. The title company can set up separate appointments or mail-away signings.
Where are divorce cases heard in Cook County?
In the Domestic Relations Division of the Circuit Court of Cook County, at the Daley Center, 50 W. Washington St., or at a suburban district courthouse.
Should we list with an agent instead?
If the house is in good shape and you can cooperate through showings, listing may bring more money. A cash sale fits better when the house needs work, timing matters or you want fewer moving parts.