Asked in Real Estate Law for Illinois

Q: I have a quit claim deed from my grandmother drafted 40 years ago, the grantees where her 3 children,the deed has a ---

Designation which states "not in tenancy in common but in joint tenancy" what does this Designation mean? Let's see who is the smartest attorney out there?

Related Topics:
2 Lawyer Answers
Anthony M. Avery
PREMIUM
Anthony M. Avery pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
Answered

A: Generally that means the survivor of the three grantees take the fee simple absolute. The two predeceasing grantees estates are extinguished and their heirs/devisees take nothing. Before you act on this explanation, you should hire a competent attorney to perform a title search.

Erik K Jacobs
Erik K Jacobs
Answered
  • Rockford, IL
  • Licensed in Illinois

A: Joint tenancy is a form of shared property ownership where each owner has an undivided interest in the property. This type of ownership creates a right of survivorship, which means that when one owner dies, the other owners absorb the deceased owner’s interest. When creating a joint tenancy, we generally will convey the property to A and B, not as tenants in common, but as joint tenants. The joint tenants, if still alive, are able to convey the real estate to a third party and split the proceeds in accordance with their interests.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.