Bill Title: Amends the Illinois Residential Real Property Transfer on Death Instrument Act. Renames the Act the "Real Property Transfer on Death Instrument Act". Changes the definitions of "owner" and "person". Defines "real property". Changes references to "residential real estate property" to references to "real property". Permits the transfer of real property by a transfer on death instrument to a trustee of a trust under certain circumstances even if the trust is subject to amendment, modification, revocation, or termination. Provides that a transfer on death instrument may not be admitted to probate as the will of the owner or as a codicil thereto. Provides that a transfer on death instrument does not need to state consideration or the addresses of the beneficiaries. Provides that if the transfer on death instrument is not witnessed by at least 2 credible witnesses, it is void. Provides that if a beneficiary attests to the execution of the transfer on death instrument, the interest transferred to that beneficiary is void as to that beneficiary. Changes the rules under which real property that is subject to a transfer on death instrument is transferred. Provides that a transfer on death instrument may be renounced by the owner's surviving spouse. Makes other changes to provisions regarding: rights of claimants; limitations; and preparation of a transfer on death instrument or its revocation. Makes conforming changes.

Spectrum: Bipartisan Bill

Status: (Passed) 2021-07-09 - Public Act . . . . . . . . . 102-0068 [SB0047 Detail]

---

Bill Drafts

Revision	Date	Format	Source	View
Chaptered	2021-07-12	HTML/Text	Link	View
Enrolled	2021-05-27	HTML/Text	Link	View
Engrossed	2021-04-23	HTML/Text	Link	View
Introduced	2021-01-29	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB0047

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB0047 currently on file.

Social Comments on IL SB0047