Joint tenancy, tenancy in common, and tenancy by the entirety are all ways to hold property in Illinois. When you hold property via tenancy in common with another person, upon the death of one of the co-owners, that share becomes part of the deceased coowner’s estate rather than passing to the other co-owners. That can make a BIG difference! In other words, a committed couple who own property together can run into problems when one of them passes away if the property is held via tenancy in common.
Posted by Bradford Miller Law, P.C.
Real Estate Law, Landlord Tenant Law, Estate Planning
134 N. LaSalle, Suite 2250
Chicago, IL 60602
312-238-9298
http://www.bradfordmillerlaw.com
Offering free legal representation to homeowners seeking a short sale
Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Chicago real estate attorney, Chicago real estate lawyer, Chicago building code violations, short sale attorney Chicago. This is intended to be advertising. Please consult with an attorney before acting on any information given here.
Sunday, April 15, 2012
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