transfer of deed upon death
transfer-on-death (TOD) | Wex - Legal Information Institute
Transfer-on-death (TOD) refers to named beneficiaries that receive assets at the death of the property owner without the need for probate, facilitating the ...
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Stepped-up basis - Wikipedia
A stepped-up basis can be higher than the before-death cost basis, which is the benefactor's purchase price for the asset, adjusted for improvements or losses.
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755 ILCS 27/ Real Property Transfer on Death Instrument Act.
"Beneficiary" means a person that receives real property under a transfer ... "Transfer on death instrument" means an instrument authorized under this Act.
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