Legal Question in Wills and Trusts in Illinois
Suppose a home is legally owned by Don and/or Bill (two brothers) and then Don dies. Does Bill then own the home outright?
Put another way, do Don's successors have any claim on the home? If not, then is it correct to assume that the home (or its proceeds upon sale) will be in Bill's estate when he dies?
Asked on 10/26/09, 6:03 pm
1 Answer from Attorneys
Gregory Turza
Law Offices of Gregory P Turza
There are two forms of joint ownership between non-spouses: joint tenancy and tenancy in common. If the owned the home in joint tenancy the surviving joint tenant takes automatically by right of survivorship.
If they owned it as tenants in common the Don's share will pass according to the terms of whatever estate planning he has done, such as Don's will. If there is no will it will pass to Don's intestate heirs.
Answered on 10/31/09, 8:19 pm