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Illinois Transfer on Death Revocation Form |
Revoking an Illinois transfer on death instrument is governed by 755 ILCS 27.
One of the many useful aspects of the Illinois transfer on death instrument (TODI) is the ability to revoke it with no penalty to the owner and no obligation to the beneficiary. If the owner, who already executed and recorded a TODI, decides, for any reason, to cancel the future transfer, completing, executing, and recording a revocation will negate the prior document and prevent the former beneficiary from gaining ownership of the residential real property covered by the TODI.
Complete, sign, and record this form to revoke a previously executed and recorded transfer on death instrument for residential real property in the state of Illinois.
Note that the requirements for executing a revocation are similar to those of the TODI. The owner must sign the revocation in the presence of two adult witnesses who are not otherwise involved with the transaction. Additionally, a notary public or other individual who is authorized by the courts to administer oaths must be present to certify the identities and signatures of the owner and the witnesses. |
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