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Article: Breaking up isn't hard to do with joint tenancy
- Article from:
- Chicago Sun-Times
- Article date:
- April 24, 1987
- Author:
CopyrightCopyright (null) Chicago Sun-Times. (Hide copyright information)
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Q. My ex-wife and I own a home in joint tenancy and I would like
to have it changed to tenancy-in-common. I want to make sure that if
I die first, our children will get my share. Do I need her consent
to do so, and would it be necessary to consult a lawyer?
A. I am assuming that your divorce decree provides that your
ex-wife remain in possession of the house and that upon its sale, the
equity will be divided, giving credit for the increasing equity
resulting from mortgage payments to the one who has been making the
payments.
Unless there is some provision in the decree prohibiting you
from making any kind of transfer of title, you can break the joint
tenancy quite easily and without ...