Real Estate : Ownership Entity Formation

The choice of the ownership, development, and leasing entity requires the complete intertwining of tax, partnership, and liability related issues. At the residential level, ownership of a residential real property asset has profound implications in the areas of tax, estate planning, and liability protection. Illinois currently recognized the ownership of the marital domicile in the form known as Tenants by the Entirety, which provides some protection from judgment creditors.