Illinois Disclaimer of Interest

Illinois Disclaimer of Interest Information

A beneficiary of an interest in property in Illinois can disclaim all or part of a bequeathed interest in, or power over, that property according to 755 ILCS 5/2-7(a). This document must be in writing, declared a disclaimer, signed by the disclaimant or a legally authorized representative, and describe the disclaimed property (5/2-7(b)).

The disclaimer must be delivered to the transferor, donor or representative, trustee or person who has legal title. In the case of an interest passing by death, an executed counterpart may be filed with the clerk of the court in the county where the estate is or will be administered. If it pertains to real property, it may also be recorded with office of the recorder in the county where the property is situated (5/2-7 (c)).

Even though the Illinois statutes stipulate no time limit to the delivery, the disclaimer must be received no later than 9 months after the transfer is made (e.g. date of death) in order to comply with IRS regulations. In addition, the disclaimer is invalid if the disclaimant has accepted the property, i.e., performed any affirmative act that is consistent with ownership of property as specified in 5/2-7(e).

Once effective, the disclaimer is irrevocable and binding to the disclaimant and all who claim under him or her (5/2-7 (d)). Be sure to consult an attorney when in doubt about the drawbacks and benefits of disclaiming inherited property.

Deeds.com Illinois Disclaimer of Interest Forms Have Been Updated as Recently as Friday March 17, 2023

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Justin S. said: Very useful information

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Mary H. said: I have downloaded all the forms and the guidelines. The information provided is very helpful and easy to access. Thank you

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Carl T. said: Awesome! Quick service and well worth the very minimal fee for the convenience of being able to quickly record my mothers will without having to leave the house. Also, our court is currently closed due to Covid. So happy to have found Deeds.com

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Michael D. said: Your Guide is very good but does not explain precisely where one can find the Instrument Number for the originally filed Claim of Lien.

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