Legal Question in Real Estate Law in Illinois
My father is selling a townhouse He and I shared after my Mom died two years ago. I'm 24 years old. I've been living in this house since my parents bought it. Never moved out. Do I have any rights for any part of this property?
Thank you.
2 Answers from Attorneys
It depends on how the house was titled. If they were joint tenants or tenants by the entirety, the answer to your question is no. If they were tenants in common, the answer to your question is maybe.
Good question. And in addition, if you have no ownership interests (perhaps tenancy in common situation as Mr. Moens suggested), you do have tenancy rights but those are debatable and can be terminated relatively easily. However, if your goal is to assure you will inherit the place when your dad passes, now would be a good time to set that up because without a trust, any real estate that passes under a will or without a will normally has to go through probate here. And if your goal is to preserve the property's value in case your dad winds up needing to go into a nursing home on any form of public assistance, time may be against you. Otherwise, what's your goal?