ILCS » Chapter 765 · Act 1005
Illinois Compiled Statutes

765 ILCS 1005/2 (2026)

Except as to executors and trustees, and except also where by will or other instrument in writing expressing an intention to create a joint tenancy in personal property with the right of survivorship, the right or incident of survivorship as between joint tenants or owners of personal property is hereby abolished, and all such joint tenancies or ownerships shall, to all intents and purposes, be deemed tenancies in common

✓ current as of May 2026
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(765 ILCS 1005/2) (from Ch. 76, par. 2)
    Sec. 2. Except as to executors and trustees, and except also where by will or other instrument in writing expressing an intention to create a joint tenancy in personal property with the right of survivorship, the right or incident of survivorship as between joint tenants or owners of personal property is hereby abolished, and all such joint tenancies or ownerships shall, to all intents and purposes, be deemed tenancies in common. However, the foregoing shall not be deemed to impair or affect the rights, privileges and immunities set forth in the following paragraphs (a), (b), (c), (d) and (e):
        (a) When a deposit in any bank or trust company
    
transacting business in this State has been made or shall hereafter be made in the names of 2 or more persons payable to them when the account is opened or thereafter, the deposit or any part thereof or any interest or dividend thereon may be paid to any one of those persons whether the other or others be living or not, and when an agreement permitting such payment is signed by all those persons at the time the account is opened or thereafter the receipt or acquittance of the person so paid shall be valid and sufficient discharge from all parties to the bank for any payments so made.
        (b) When shares of stock, bonds or other evidences of
    
indebtedness or of interest are or have been issued or registered by any corporation, association or other entity in the names of 2 or more persons as joint tenants with the right of survivorship, the corporation, association or other entity and their respective transfer agents may, upon the death of any one of the registered owners, transfer those shares of stock, bonds, or other evidences of indebtedness or of interest to or upon the order of the survivor or survivors of the registered owners, without inquiry into the existence, validity or effect of any will or other instrument in writing or the right of the survivor or survivors to receive the property, and without liability to any other person who might claim an interest in or a right to receive all or a portion of the property so transferred.
        (c) When shares of stock, bonds, or other evidences
    
of indebtedness or of interest are or have been issued in the joint names of 2 or more persons or their survivors by corporations, including state chartered savings and loan associations, federal savings and loan associations, and state and federal credit unions, authorized to do business in this State, all payments on account thereof made then or thereafter, redemption, repurchase or withdrawal value or price, accumulations thereon, credits to, profits, dividends, or other rights thereon or accruing thereto may be paid or delivered in whole or in part to any of those persons whether the other person or persons be living or not, and when an agreement permitting such payment or delivery is signed by all those persons at the time when the shares of stock, bonds or evidences of indebtedness or of interest were issued or thereafter, the payment or delivery to any such person, or a receipt or acquittance signed by any such person, to whom any such payment or any such delivery of rights is made, shall be a valid and sufficient release and discharge of any such corporation for the payment or delivery so made.
        (d) When the title to real property is held in joint
    
tenancy by 2 or more persons or in tenancy by the entirety, and payment of compensation is made to any county treasurer for the taking or damaging of that real property in the manner provided for the exercise of the right of eminent domain under the Eminent Domain Act, or pursuant to any Act of the General Assembly now or hereafter enacted for the exercise of the sovereign power of eminent domain, the right of survivorship to the title in and to that real property shall be transferred to the money so paid to and in the hands of the county treasurer. However, upon application to the county treasurer holding the money by any joint tenant for his proportionate share thereof, or by any tenant by the entirety for a one-half share thereof, he shall receive the same from the county treasurer without the consent or approval of any other joint tenant, and the person making the application shall have no survivorship rights in the balance remaining in the hands of the county treasurer after deducting therefrom his proportionate share.
        (e) When the property owned in joint tenancy is a
    
motor vehicle which is the subject of a title issued by the Secretary of State, the owners shown on the certificate of title shall enjoy the benefits of right of survivorship unless they elect otherwise. A certificate of title which shows more than one name as owner shall give rise to a presumption of ownership in joint tenancy with right of survivorship.
    Furthermore, any non-transferable United States Savings Bond, debenture, note or other obligation of the United States of America therein named shall, upon the death of the designated person, if the bond or other obligation is now or hereafter issued made payable to a designated person and upon his death to another person then outstanding, become the property of and be payable to the other person therein named. If any such non-transferable bond, debenture, note or other obligation of the United States of America be made payable to 2 persons, in the alternative, the bond or other obligation shall, upon the death of either person, if the bond or other obligation is then outstanding, become the property of and be payable to the survivor of them.
(Source: P.A. 94-1055, eff. 1-1-07.)

    
Notes of Decisions
Cited in 12 cases (2 in the last 5 years), 1994–2025 · leading case: In Re Est. of Shea, 848 N.E.2d 185 (Ill. App. Ct. 2006).
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In Re Est. of Shea, 848 N.E.2d 185 (Ill. App. Ct. 2006). · cites it 2× “As the parties agree, when a sole owner of a bank account adds an apparent joint tenant to the account, the law presumes that the original owner intends a gift.”
Fisher v. State Bank of Annawan, 643 N.E.2d 811 (Ill. 1994). · cites it 2× “Plaintiff's CDs provided that the defendant bank could treat each depositor on the CDs as the absolute owner and that each depositor shall be the agent of each other for all purposes relating to the CDs. Robert's name was on the CD accounts and his signature was on the signature…”
Konfrst v. Steklik, 2014 IL App (1st) 132113 (Ill. App. Ct. 2014). · cites it 5× “Plaintiff, on the other hand, claimed that the accounts failed to comply with the requirements of the Illinois Joint 1-13-2113 Tenancy Act (the Act) (765 ILCS 1005/2 (West 2010)) and that the decedent did not intend to make a gift of a joint tenancy interest in either account…”
Konfrst v. Steklik, 2014 IL App (1st) 132113 (Ill. App. Ct. 2014). · cites it 5× “Plaintiff, on the other hand, claimed that the accounts failed to comply with the requirements of the Illinois Joint Tenancy Act (the Act) (765 ILCS 1005/2 (West 2010)) and that the decedent did not intend to make a gift of a joint tenancy interest in either account but,…”
Raymond Prof'l Grp., Inc. v. William A. Pope Co. (In Re Raymond Prof'l Grp., Inc.), 408 B.R. 711 (Bankr. N.D. Ill. 2009). “In fact, the dual signature requirement for withdrawals from the Account supports the conclusion that there was not a joint tenancy, because the dual signature requirement specifically limited each party’s right and ability to use or withdraw all of the funds from the Account.”
Mottaz v. Union Planters Bank, N.A. (In Re Dame), 268 B.R. 529 (Bankr. S.D. Ill. 2001). “765 ILCS 1005/2(a) provides: When a deposit in any bank .”
In re: Est. of Frain, 2025 IL App (2d) 240780 (Ill. App. Ct. 2025). · cites it 2× “765 ILCS 1005/2 (West 2022); see Doubler v.”
Konfrst v. Steklik, 2014 IL App (1st) 132113 (Ill. App. Ct. 2014). · cites it 5× “Plaintiff, on the other hand, claimed that the accounts failed to comply with the requirements of the Illinois Joint 1-13-2113 Tenancy Act (the Act) (765 ILCS 1005/2 (West 2010)) and that the decedent did not intend to make a gift of a joint tenancy interest in either account…”
In re Est. of Angsten, 2023 IL App (2d) 220248-U (Ill. App. Ct. 2023). · cites it 2× “¶ 39 Richard recognizes that section 2 of the Joint Tenancy Act (765 ILCS 1005/2 (West 1998)) provides: - 11 - 2023 IL App (2d) 220248-U “Except as to executors and trustees, and except also where by will or other instrument in writing expressing an intention to create a joint…”
In Re Hedrick, 441 B.R. 601 (Bankr. S.D. Ill. 2010). · cites it 2× “765 ILCS 1005/2; 21 Illinois Law and PRACTICE Husband & Wife § 24, at 251; Black’s Law Dictionary 1465-66 (6th ed 1990).”
In re Est. of Shea (Ill. App. Ct. 2006). · cites it 2× “As the parties agree, when a sole owner of a bank account adds an apparent joint tenant to the account, the law presumes that the original owner intends a gift.”
Boss v. La Salle Bank, N.A., 84 F. Supp. 2d 947 (N.D. Ill. 1999). “765 ILCS 1005/2(c). Therefore, Boss waived any requirement that the Application might otherwise have imposed on Invesco to make out any redemption checks to Black and Boss conjunctively rather than in the alternative.”
— 765 ILCS 1005/2(a) — 9 cases
In Re Est. of Shea, 848 N.E.2d 185 (Ill. App. Ct. 2006). “As the parties agree, when a sole owner of a bank account adds an apparent joint tenant to the account, the law presumes that the original owner intends a gift.”
Fisher v. State Bank of Annawan, 643 N.E.2d 811 (Ill. 1994). “Plaintiff's CDs provided that the defendant bank could treat each depositor on the CDs as the absolute owner and that each depositor shall be the agent of each other for all purposes relating to the CDs. Robert's name was on the CD accounts and his signature was on the signature…”
Konfrst v. Steklik, 2014 IL App (1st) 132113 (Ill. App. Ct. 2014). “Plaintiff, on the other hand, claimed that the accounts failed to comply with the requirements of the Illinois Joint 1-13-2113 Tenancy Act (the Act) (765 ILCS 1005/2 (West 2010)) and that the decedent did not intend to make a gift of a joint tenancy interest in either account…”
Konfrst v. Steklik, 2014 IL App (1st) 132113 (Ill. App. Ct. 2014). “Plaintiff, on the other hand, claimed that the accounts failed to comply with the requirements of the Illinois Joint Tenancy Act (the Act) (765 ILCS 1005/2 (West 2010)) and that the decedent did not intend to make a gift of a joint tenancy interest in either account but,…”
Mottaz v. Union Planters Bank, N.A. (In Re Dame), 268 B.R. 529 (Bankr. S.D. Ill. 2001). “765 ILCS 1005/2(a) provides: When a deposit in any bank .”
— 765 ILCS 1005/2(c) — 1 case
Boss v. La Salle Bank, N.A., 84 F. Supp. 2d 947 (N.D. Ill. 1999). “765 ILCS 1005/2(c). Therefore, Boss waived any requirement that the Application might otherwise have imposed on Invesco to make out any redemption checks to Black and Boss conjunctively rather than in the alternative.”
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