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How do I get a transfer on death deed in Illinois?

You and two witnesses must sign the TOD instrument while in the presence of a notary public, and then record (file) the document with the county recorder of deeds before your death.

Do I need a lawyer to do a transfer on death deed?

If youre thinking about ways to keep your home out of probate, and TOD deeds are an available option in your state, they are well worth considering. Unless you have a complex situation or have specific concerns, you likely wont need a lawyer to create a TOD deed.

What are the disadvantages of a transfer on death deed in Illinois?

Disadvantages of transfer on death deeds Creditors may come after the new owner(s) of the property. Beneficiaries may get equal shares of the asset. Not available in many states. Unintentional disinheritance. Raises the risk that estate planning documents dont match.

What is required for a transfer on death deed in Illinois?

The deed must include the legal description of the property, the owners signature and be witnessed by two non-beneficiary credible witnesses, plus notarization. The deed must be filed with the county recorders office where the property is located before the owners death.

Does tod avoid probate in Illinois?

Illinois law allows for Transfer-on-Death (TOD) instruments, particularly for real estate. A TOD deed enables you to name a beneficiary who will automatically inherit your property upon your death, bypassing the probate process.

transfer on death deed illinois

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