Warranty Deed-Joint Tenancy Illinois Statutory is a type of ownership in which two or more people own an undivided interest in real estate. This type of ownership is recognized under the Illinois Statutes and provides certain rights and obligations to co-owners. The primary rights of joint tenants are survivorship and equal rights of possession. Survivorship means that upon the death of one joint tenant, the other joint tenant(s) automatically inherits the deceased joint tenant's interest (i.e. ownership) in the property. The equal rights of possession means that all joint tenants have an equal right to use and occupy the property. There are two types of Warranty Deed-Joint Tenancy Illinois Statutory: Tenancy in Common and Tenancy by the Entirety. Tenancy in Common is where the co-owners each have an undivided equal interest in the property and can transfer their interest to another person upon death. Tenancy by the Entirety is only available to married couples and provides for the right of survivorship. Upon the death of one spouse, the survivor automatically becomes the sole owner of the property.