2015 House Bill 5139

Allow unequal share “joint tenancy”

Introduced in the House

Dec. 9, 2015

Introduced by Rep. Peter Pettalia (R-106)

To allow “joint tenant” property ownership where the tenants do not have equal shares. “Joint tenancy” means that if one owner cannot sell his or her share to an outsider (unlike the more prevalent “tenants in common” form of ownership), and if an owner dies his or her share is divided amongst the surviving owners (for which reason it is sometimes jokingly labeled “murder estate”).

Referred to the Committee on Tax Policy