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Does Illinois recognize joint tenancy?

In Illinois, property can be held as tenants in common, joint tenants and tenants by the entirety. These labels on the jointly held property impact what happens to the property in life, death and (sometimes) divorce.

Can you add someone to the deeds?

If you want to add someones name onto your property title deeds, youll need to follow a process known as Transfer of Equity. Its quite straightforward, but there can be hurdles along the way, so its best to speak with one of our Conveyancing Solicitors who can guide you through the Transfer of Equity process.

Who benefits the most from a warranty deed?

The buyer, or grantee, of a property benefits the most from obtaining a warranty deed. Through the recording of a warranty deed, the seller is providing assurances to the buyer should anything unexpected happen.

What does owning a property as joint tenants mean?

As joint tenants (sometimes called beneficial joint tenants): you have equal rights to the whole property. the property automatically goes to the other owners if you die.

Where do I file a quit claim deed in Illinois?

Before you file the deed, get a tax stamp from the local municipality where the property is located. When youre ready to file the deed, bring it to the County Recorder of Deeds, where they will stamp and file the deed. Youll have to pay a fee for recording, or filing, the deed.

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