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Solo In Chicago

...empowering the Second City's entrepreneurial legal community

Tuesday, November 11, 2008

Don't Hide Assets in Real Estate!

Namely because real estate is the most public of assets so it won't be hidden long! If you're in family law at all you're going to have cases in a dissolution of marriage setting or child support collection setting where a litigant wants to hide her/his assets. I'm not here to judge this action but rather to gasp and shake my head at some recent cases where litigants were attempting to hide assets and as part of the "hiding" bought Cook County real estate.

Well, the real estate wasn't hidden for long and a quick signature on a Judicial Deed and now the "Ex" has the real estate.

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