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Comparable to Ladybird, beneficiary, and enhanced life estate deeds, these instruments permit homeowners to name a beneficiary to gain title to their residential real property following the owner's death, while retaining absolute possession of and control over the property while alive. Because the Illinois document DOES NOT transfer ownership when it's executed, the owner may revoke the transfer at will, and is allowed to reallocate, sell, or otherwise dispose of the real estate as desired with no penalties, restrictions or obligation.
Deeds.com Illinois Transfer on Death Instrument Forms Have Been Updated as Recently as Thursday April 20, 2023
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