Tenants In Common, Joint Tenants, and Tenants In The Entirety In An Illinois Divorce - Russell D. Knight

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From Law Office of Russell D. Knight – In this episode, we explore the crucial topic of 'Tenants In Common, Joint Tenants, and Tenants In The Entirety In An Illinois Divorce' and how property ownership impacts divorce proceedings in Illinois. Understanding the way real estate is titled—whether as tenants in common, joint tenants, or tenants in the entirety—can significantly affect the division of marital property. We break down the unique rights and protections offered by each type of ownership, including the right of survivorship in joint tenancy and the creditor protections provided by tenancy by the entirety.

We’ll discuss key Illinois statutes, such as 765 ILCS 1005/1c and 750 ILCS 5/503(b)(1), which govern property ownership and its treatment during divorce. These laws determine how marital property is divided, regardless of whether it’s held in joint tenancy, tenancy in common, or tenancy by the entirety. We’ll also explain how an Illinois divorce automatically converts tenancy by the entirety into tenancy in common upon dissolution of marriage, preventing former spouses from inheriting each other’s property.

Listeners will hear about notable Illinois case law, including Sathoff v. Sutterer and In re Marriage of Del Giudice, which highlight the complexities of real estate ownership during a divorce. We’ll explain how placing non-marital property into joint ownership creates a presumption that the property is now part of the marital estate. Additionally, we’ll cover how courts address fraudulent transfers when one spouse attempts to retitle property to avoid creditors.

Finally, we’ll walk through practical considerations for divorcing couples who own real property in Illinois. Whether you're dealing with marital homes, homestead property, or real estate agreements in your Marital Settlement Agreement, understanding how deeds, title transfers, and creditor claims affect property division is essential. Tune in to learn more about protecting your interests and navigating property issues during a divorce in Illinois.
Law Office of Russell D. Knight
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