How does an inheritance work regarding a property held as joint tenants with rights of survivorship?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How does an inheritance work regarding a property held as joint tenants with rights of survivorship?
The deed on the property has my brother, sister and my mom only on it. It is as joint tenants with rights of survivorship (not as tenants in common). I need to know, since my mom left me 1/3 of her real estate in her Will, does that put me back on the deed? What percentage would each of us own and can we file a partition forcing my sister, who is executor of the Will, to sell to settle the estate?
Asked on June 1, 2012 under Estate Planning, Illinois
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
I'm afraid you are out of luck here. If the property in question was held as "joint tenants with right of survivorship", this means that upon the death of one of the tenants, the remaining tenants share in equal ownership. There is no 1/3 interest to pass into the estate. The situation would have been different if the property was held title as "tenants in common"; in that case the deceased's share would in fact have passed as an asset into their estate. However, such is not the case here. You do, however, still have a 1/3 interest in the estate itself.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.