Illinois Info

Illinois Divorce Start Your Divorce Find Professionals Illinois Articles Divorce Facts Divorce Grounds Residency Divorce Laws Mediation/Counseling Divorce Process Legal Separation Annulments Property Division Alimony Child Custody Child Support Divorce Forms Process Service Grandparent Rights Forum Illinois Products Divorce by County

Illinois Articles

Agreements Attorney Relationship Custody & Visitation Child Support Collaborative Law Counseling Divorce/General Divorce Coaching Financial Planning Mediation Parenting Property Division SEE ALL

Info Categories

Contemplating Divorce Children & Divorce Divorce, Dollars & Debt Divorce Laws Divorce Process Divorce Negotiation SEE ALL

More Information

Articles Checklists Research Center Cases of Interest Dictionary Encyclopedia Encyclopedia (pop-up) Blogs

For Professionals

Advertise With Us Free Network Page Join Our Network Submit Articles Sign In

Network Sites

Illinois Divorce Support Illinois Divorce Online

Transferring Non-Marital Home to Both Parties as Joint Tenants or Should Estate Planning Documents be Utilized

It is not unusual for one spouse to come into the marriage with a residence that is solely in his or her name.

If after the marriage, the home is transferred to both spouses to own as joint tenants, that can result in transmutation which means that what was previously non-marital property is then considered marital property in terms of dividing marital assets within a dissolution of marriage proceeding.

Once the transfer of real estate has occurred, with a conveyance of one spouse to both spouses as joint tenants or tenants in common, that cannot be undone or changed without the consent of both spouses.

On the other hand, if a spouse comes into the marriage with a home as non-marital property, that spouse can, through his or her estate planning documents, make provision for the other spouse. There is flexibility with this strategy in that the person owning the marital home can always change his or her estate planning documents to make alternative provisions and that avoids the issue of transmutation which may otherwise occur if the home, owned by one spouse, is transferred to both spouses after the marriage, to be held as joint tenants or tenants in common.


Was this helpful? Like our site & let us know.

Related Articles


Start Illinois Divorce Start Your Illinois Online Divorce Today
Easy, Fast and Affordable with a 100% Guarantee.
Illinois Divorce Find Illinois Divorce Professionals in Your Area:
Join the Network
Illinois Divorce Products, Services and Solutions Illinois Divorce Products, Services and Solutions
Illinois Divorce Resources to Help You Through the Process.
Online Parenting Class Illinois Mandatory Online Parenting Class
Easy and convenient - complete at your own pace online.
Divorce and Custody Books Discount Divorce Bookstore
Over 100 Titles of the Best Books on Divorce & Custody.
Divorce Downloads Divorce Download Center
Instantly Download, Books, Manuals, & Forms.
Divorce Worksheet Free Illinois Divorce Worksheet & Separation Agreement
Your Guide to Get Organized and Put Everything in Writing.
   
When the parties cannot reach an agreement on property division, the Illinois court will divide all the property and debts for them equitably. When a property settlement is finally reached, it must be in writing and signed by both parties.
Divorce Lawyers & Mediators
 

Find Professionals

Easily Connect With a Lawyer or Mediator
Have Divorce Professionals from Your Area Contact You!
Enter Your Zip Code:

 

Start Your Divorce File for an Illinois Divorce

 

Settle Your Divorce Negotiate Your Illinois Divorce

 

Support Forum Illinois Support Forum

[an error occurred while processing this directive]
Guarantee Official PayPal Seal Facebook Twitter Versign Secure Site
Limited Offer Women's Rights Manual For Divorce
Cover Price: $55.95
Your Price: $29.95
You Save: $26.00

"The Absolute Best Investment in Your Divorce"

Men's Rights Manual For Divorce
Cover Price: $55.95
Your Price: $29.95
You Save: $26.00

"Uncover Your Options and Unleash Solutions"