Legal Question in Real Estate Law in Illinois
My father changed the deed on his condo to include my name in joint tenancy with right of survivorship in 9/03. It was my understanding that the condo would become my property upon his death.
His will dated 1/04 states "I hereby bequest my entire estate to my daughter, including my apartment."
My question: is the condo part of my father's "estate" or is it exempt from that status?
The reason for my asking: although not formally included in the will, my father asked that I establish a college account for each of 5 grandchildren "from his estate." He didn't leave funds to accomplish this without selling the condo. Am I responsible for funding these college accounts? This could be accomplished only by selling the condo.
Please advise!
2 Answers from Attorneys
If it is JTWROS then the condo is yours upon his death.
If it is not then some part of it will be part of his estate.
A condo is not an "apartment". I think that a court would rule that ownership of the real property would be yours upon death of the other joint tenant. Good Luck.
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