Transfer On Death Deed Form Alabama For Illinois
Description
How to fill out Alabama Clerk's Deed?
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FAQ
An Illinois property owner can use a transfer-on-death instrument to transfer property to one or more beneficiaries. The default rule is that multiple beneficiaries named in a TOD instrument receive the property in equal shares as tenants in common with no right of survivorship.
Bring the TODI to the Recorder of Deeds office in the county where the property that you're transferring is. If it is located in more than one county, file it in every county where it is located. Bring your signed TODI form. Tell them you want to record your TODI.
An Illinois transfer on death deed instrument (TODI) is a document that allows someone to transfer ownership of real property to a beneficiary, effective upon their death. A TODI allows the beneficiary to forgo probate proceedings, which can be time-consuming and costly.
In Illinois, a TOD provision usually supersedes a will. This means that if your will stipulates that an asset should be transferred to a particular individual, but the TOD provision on the asset names a different person, the asset will transfer to the person named in the TOD provision.
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.