Get Il Real Estate Transfer Tax 2011-2025
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Yes, Illinois does recognize Transfer on Death (TOD) deeds, allowing property owners to designate beneficiaries who will receive the property upon their death without undergoing probate. While TOD deeds do not incur the IL Real Estate Transfer Tax during the owner's lifetime, the tax may apply when the property is transferred to beneficiaries. Utilizing services like uslegalforms can guide you in setting up these deeds correctly.
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