Attorney for Transfer on Death Deed in Chicago

About Transfer on Death Instruments in Chicago

A transfer on death instrument (TODI) is a way for Illinois residents to give their real property to someone else when they die. The significant benefit of a TODI is that it allows the real property to transfer without having to go through probate, which can be a time-consuming and expensive process for Chicago residents who have just lost a loved one. If you want to maintain complete ownership of your property but have it transferred to someone else, like a loved one, after you die, we encourage you to speak with an attorney experienced with transfer on death deed in Chicago. 

How a TODI Works in Illinois   

A TODI operates like a deed that does not have any effect until the grantor passes away. Then and only then, does the deed take effect and the property is subsequently transferred to the grantee. It is able to be executed by itself without the need for a Will, but does require some planning ahead. A TODI can only be used to transfer real property, such as a house.

Benefits of a Transfer on Death Deed in Chicago

A TODI avoids probate, saving time and money, but there are other benefits to having a TODI in place:

• Avoid Family Drama: Even in the most tight-knit families drama can unfold when a family member dies. A TODI can help avoid this emotional burden as the property transfers to the person the decedent desires, leaving little room for argument.

• Retain Ownership Rights: Another benefit of a TODI is that it allows the grantor to maintain complete ownership over the property until they die. 

• Flexibility: At any point in time the owner of the real property decides they want to change who the property will go to, they may do so. 

How to File a TODI in Cook County

Filing a TODI in Cook County does not have to be complicated, but to be effective it does have to be done properly. Requirements include:

• The owner of the property must be of sound mind and at least 18 years of age

• Signature of grantor

• Description of the property being conveyed

• Names of the grantee and grantor

• Signature of two witnesses

• Notarization

• Language clarifying that the transfer occurs after the death of the current owner

• Filing the TODI in the county where the real property is located prior to the death of the owner

A trusted Chicago real estate lawyer can file a TODI for you to help ensure your property - often your biggest lifetime investment - transfers to the right people upon your death. Book a consultation at the Law Office of Alexis Hart McDowell to start the process today.

The Law Office of Alexis Hart McDowell Can Create a Transfer on Death Deed in Chicago

If you have real property that you wish to keep ownership and control over while you are alive, but transfer to some other person or entity after you die, a transfer on death deed in Chicago may be in your best interest. At the Law Office of Alexis Hart McDowell, we are real estate legal professionals that take pride in our ability to help our clients accomplish their real estate needs, including the execution of TODI. Book a consultation to get started.