Illinois Warranty Deed Tenancy By The Entirety (Individual To Individual) is a type of shared ownership in which two or more people jointly own a piece of real estate. In this form of tenancy, each owner has an undivided interest in the entire property. This type of tenancy provides a higher level of legal protection than other types of ownership and is most commonly used by married couples. The two types of Illinois Warranty Deed Tenancy By The Entirety (Individual To Individual) are joint tenancy and tenancy in common. Joint tenancy requires that each owner has an equal stake in the property and must agree on all major decisions concerning the property. Tenancy in common allows each owner to hold a separate and distinct ownership share in the property, and each owner is free to make their own decisions regarding their portion of the property.
Illinois Warranty Deed Tenancy By The Entirety (Individual To Individual)
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