Sen. A. J. Wilhelmi
Filed: 5/6/2011
 
 

 

 

 
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1
AMENDMENT TO HOUSE BILL 1153




2    AMENDMENT NO. ______. Amend House Bill 1153 on page 3, by 
3replacing line 18 with the following:


 
4    "Section 40.  Requirements.
5    (a)  A transfer on death instrument:"; and

 
6on page 4, below line 6, by inserting the following:
7    "(b)  The failure to comply with any of the requirements of 
8subsection (a) will render the transfer on death instrument 
9void and ineffective to transfer title to the residential real 
10estate at the owner's death."; and
 
11on page 10, line 3, after the period, by inserting the 
12following:
13"If a notice of death affidavit and acceptance has not been 
14filed by at least one beneficiary or by a beneficiary's 
15authorized representative  in the office of the recorder in the 
 
 
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1county or counties  where the residential real estate is located 
2within 30 days after the owner's death, the personal 
3representative of the owner's estate, if any,  may take 
4possession of the residential real estate in accordance with 
5Section 20-1 of the Probate Act of 1975, and shall be entitled 
6to a lien for                                                                                                                                                                                                                                                                                                                     all reasonable costs and expenses incurred in the 
7management and care thereof provided that a reasonable attempt 
8to notify the beneficiary or beneficiaries has been made. If a 
9notice of death affidavit and acceptance has not been filed by 
10at least one  beneficiary or by the beneficiary's authorized 
11representative in the office of the recorder in the county or 
12counties  where the residential real estate is located within 2 
13years after the owner's death, the transfer on death instrument 
14shall be void and ineffective and the residential real estate 
15shall pass to the owner's estate as provided in paragraph (2) 
16of subsection (a) of Section 65  to be administered and 
17distributed in accordance with the terms thereof."; and
 
18on page 10, line 5, by replacing "Disclaimers" with "the 
19Disclaimer"; and 
 
20on page 10, by replacing lines 16 through 22 with the 
21following:
 
22    "Section 95.  Preparation of a transfer on death instrument 
23or its revocation.  A transfer on death instrument or its 
 
 
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1revocation shall be prepared only  by an Illinois licensed 
2attorney.  Nothing in this Section, however, shall prohibit an 
3owner  from  preparing his or her own  transfer on death 
4instrument or revocation."; and
 
5on page 11, by deleting lines 1 through 4.