The Four Ways to Hold Title in Illinois
How you hold title to your home is one of the most consequential — and most overlooked — decisions in real estate and estate planning. The ownership structure appears on your deed and determines what happens to the property at your death, during incapacity, and in the event of financial trouble.
Illinois law recognizes four principal ways to hold title to real property: sole ownership, joint tenancy with right of survivorship, tenancy in common, and ownership through a trust. Notably, Illinois does not recognize tenancy by the entirety — a form of ownership for married couples that exists in many other states.
Each Method Explained
Select an ownership method to explore its details:
Sole Ownership
One person owns the property outright. Title is held in that person's name alone, with no co-owners.
When the owner dies, the property passes through their estate — either by will (through probate) or by trust (no probate). Without a trust or Transfer on Death Instrument, a solely-owned property will require probate in Cook County before it can be transferred to heirs.
Advantages:
- Complete control — no co-owner consent needed for sale or mortgage
- Simple title — no disputes about fractional interests
- Appropriate for unmarried owners or investors
Drawbacks:
- Requires probate at death unless paired with a trust or TODI
- No automatic transfer to a surviving partner
- All decisions rest with one owner — no backup
Probate at Death
Required (unless paired with trust or TODI)
Best For
Unmarried individuals, investors holding rental property, or anyone with a comprehensive estate plan (trust or TODI)
Illinois Does Not Have Tenancy by the Entirety
Important for Married Couples
Many states — including Indiana, Wisconsin, and Michigan — recognize "tenancy by the entirety," a form of ownership exclusively for married couples that provides both automatic survivorship and protection from one spouse's individual creditors. Illinois does not have this. In Illinois, married couples who want survivorship must use joint tenancy or a trust, neither of which provides the same creditor-protection benefits that tenancy by the entirety offers in other states.
This is an important planning consideration for Illinois homeowners with significant personal debt or professional liability exposure. Unlike some other states, there is no way to shield your home from your own individual creditors simply by holding title with a spouse in Illinois. Other asset protection strategies should be discussed with an attorney if this is a concern.
Full Comparison: Probate, Taxes, and Creditors
| Method | Probate at Death? | Property Tax Reassessment? | Creditor Exposure | Control During Life |
|---|---|---|---|---|
| Sole Ownership | Yes (unless + trust/TODI) | N/A (sole owner) | Full — creditors can reach property | Complete |
| Joint Tenancy | No (at first death) | Sometimes (at second death if no trust) | Each owner's share reachable | All owners must agree on sale/mortgage |
| Tenancy in Common | Yes — each share separately | Possible at each death | Each owner's share separately reachable | Each owner controls their share; partition risk |
| In a Trust | No — successor trustee acts | No (revocable trust transfer) | Revocable: creditors can reach during life | Complete (you are trustee during life) |
Which Method Is Right for Your Situation?
Situation
Married couple, simple estate, want automatic survivorship
Recommendation
Joint tenancy is the simplest and most economical choice. Consider adding a living trust if you have significant assets or want comprehensive incapacity planning.
Situation
Single person, wants probate-free transfer at death
Recommendation
Sole ownership + Transfer on Death Instrument (TODI) is the simplest solution. A revocable living trust provides more comprehensive planning.
Situation
Co-buyers (friends, investors, unmarried partners)
Recommendation
Tenancy in common is standard for co-investors. Consider a co-ownership agreement addressing what happens if one partner wants to sell or dies.
Situation
Anyone wanting full estate planning with incapacity protection
Recommendation
A revocable living trust is the gold standard. Works for married couples, singles, and any complexity level. Best for multi-property or multi-state situations.
Frequently Asked Questions
Hold Title the Right Way for Your Goals
Illinois Estate Law advises buyers and homeowners on title structure as part of comprehensive estate planning — and handles all deed work to implement the right structure for your situation. Schedule a consultation to review how you currently hold title.
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