Property Ownership
What is 'color of title' in Illinois adverse possession law?
AA title that appears valid on its face but has a defect that makes it legally invalid
BA document (such as a deed or written instrument) that appears to convey title but is legally defective; color of title with tax payments reduces the adverse possession period in Illinois✓ Correct
CA title that has been colored (highlighted) to show ownership boundaries
DA colored certificate issued by the county recorder
Explanation
Color of title refers to having a written instrument (deed, judgment, or other document) that appears to convey title but is legally defective and does not actually do so. In Illinois, adverse possession with color of title and payment of property taxes requires only 7 years (versus 20 years without color of title).
People Also Study
Related Illinois Questions
- When property is owned by an Illinois land trust, the trustee must execute any deed, mortgage, or other instrument affecting title at the direction of:Property Ownership
- In Illinois, 'color of title' in the context of adverse possession refers to:Property Ownership
- Adverse possession in Illinois requires that the use be:Property Ownership
- In Illinois, which type of mortgage instrument conveys legal title to a third-party trustee until the loan is repaid?Finance
- A title search typically examines public records going back how many years in Illinois?Escrow & Title
- A buyer's mortgage payment is $1,850 per month, including principal, interest, taxes, and insurance (PITI). The lender requires a housing expense ratio (front-end ratio) of no more than 28%. What minimum gross monthly income does the buyer need?Real Estate Math
- A buyer qualifies for a maximum monthly PITI payment of $2,200. Property taxes are $300/month and homeowner's insurance is $100/month. At 7% for 30 years, the monthly principal and interest factor is $6.65 per $1,000 borrowed. What is the maximum loan amount?Real Estate Math
- A deed that passes title at death without going through probate by means of a beneficiary designation is called a:Escrow & Title
Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
Net Operating Income (NOI)The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Math Concepts
Study This Topic
Practice More Illinois Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Illinois Quiz →