Blank Transfer-on-Death Deed Form for Illinois State Fill Out Your Document

Blank Transfer-on-Death Deed Form for Illinois State

The Illinois Transfer-on-Death Deed form allows property owners to designate beneficiaries who will receive their real estate upon their death, bypassing the probate process. This straightforward tool simplifies the transfer of property and provides peace of mind for individuals planning their estate. To get started on securing your property for your loved ones, fill out the form by clicking the button below.

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Document Overview

Fact Name Details
Definition The Illinois Transfer-on-Death Deed allows property owners to transfer real estate to beneficiaries upon their death without going through probate.
Governing Law The law governing the Transfer-on-Death Deed in Illinois is found in the Illinois Compiled Statutes, specifically 755 ILCS 27.
Eligibility Any individual who owns real property in Illinois can create a Transfer-on-Death Deed.
Beneficiary Designation Property owners can name one or more beneficiaries on the deed.
Revocation The Transfer-on-Death Deed can be revoked by the property owner at any time before their death.
Recording Requirement The deed must be recorded with the appropriate county recorder's office to be effective.
Effectiveness The Transfer-on-Death Deed takes effect only upon the death of the property owner.
No Immediate Ownership Transfer Beneficiaries do not gain any ownership rights until the property owner's death.
Tax Implications Transfer-on-Death Deeds do not trigger gift taxes during the property owner's lifetime.
Legal Assistance While not required, consulting with an attorney can help ensure the deed is properly executed and recorded.

Discover More Transfer-on-Death Deed Templates for Specific States

Documents used along the form

The Illinois Transfer-on-Death Deed (TOD) form allows individuals to transfer real property to beneficiaries upon their death without going through probate. When preparing this deed, it is often necessary to consider additional documents that may facilitate the estate planning process or clarify the transfer of assets. Below is a list of other forms and documents commonly used alongside the Illinois Transfer-on-Death Deed.

  • : This document outlines an individual's wishes regarding the distribution of their assets after death. It can complement a TOD deed by addressing any assets not covered by the deed.
  • : A legal entity created to hold assets during a person's lifetime and distribute them after death. This document can help avoid probate and provide detailed instructions for asset management.
  • : These forms are used for accounts such as life insurance policies and retirement accounts. They specify who will receive the funds upon the account holder's death, ensuring a smooth transfer.
  • : This document grants someone the authority to make decisions on behalf of another person, particularly in financial or healthcare matters. It can be crucial for managing assets before death.
  • : This document can establish the identity of heirs when someone dies without a will. It may be necessary to clarify property ownership in certain situations.
  • : These documents prove ownership of real estate. They are essential when transferring property through a TOD deed to ensure the title reflects the new ownership.
  • : This document involves a third party holding the title to property as security for a loan. It may be relevant if the property has existing liens or mortgages.
  • : This document is filed with the county recorder to provide public notice of the TOD deed. It helps prevent disputes regarding property ownership.
  • : This official document verifies an individual's death. It is often required to finalize the transfer of property under a TOD deed.

Understanding these documents and their purposes can significantly enhance the effectiveness of estate planning. Each plays a unique role in ensuring that your wishes are honored and that your loved ones are taken care of after your passing.

Document Sample

Illinois Transfer-on-Death Deed Template

This Transfer-on-Death Deed is made pursuant to the Illinois Uniform Transfer-on-Death Act (765 ILCS 1005). It allows an individual to designate beneficiaries who will receive a specified piece of real estate upon the individual's death, without going through probate.

Property Address: ____________________________________

Legal Description of Property: __________________________

Grantor(s): ___________________________________________

Grantee(s)/Beneficiary (s): _____________________________

The undersigned Grantor(s) hereby declare their intent to transfer the real property described above to the Grantee(s) upon the death of the Grantor(s) as follows:

Transferor's Statement: The Grantor(s) confirms that they hold title to the property and intend to transfer ownership of the property as outlined in this deed.

Designated Beneficiary:

  • Name: ______________________________________________
  • Address: ___________________________________________
  • Relationship: _______________________________________

This deed shall be effective upon the death of the Grantor(s) and shall not affect the rights of creditors.

The Grantor(s) may revoke this deed at any time during their lifetime by recording a revocation instrument.

IN WITNESS WHEREOF, the Grantor(s) has set their hand this ______ day of __________, 20___.

Grantor(s) Signature: ________________________________

Grantor(s) Printed Name: ___________________________

Notary Public: State of Illinois

Subscribed and sworn before me this ______ day of __________, 20___.

Notary Signature: _________________________________

My Commission Expires: ____________________________