The Illinois Residential Real Property Transfer Act (755 ILCS 27/1, et seq.) (the “Act”) provides for an owner, or co-owners, to transfer Illinois residential real estate to one or more designated beneficiaries at the death of the owner, or, if there are more than one owner, at the death of the surviving owner. This post-death transfer is done by preparing and recording a Transfer on Death Instrument (“TOD Instrument”) during the owner's life. ... Read More
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