Illinois General Assembly - Bill Status for HB5235

Creates the Transfer on Death Deeds Act. Contains provisions that concern: definitions; the effect of a transfer on death deed; rights of creditors; rights of the State and governmental entities; multiple grantee beneficiaries; successor grantee beneficiaries; multiple joint tenant grantors; execution by attorney-in-fact; recording requirements and authorization; deed to trustee or other entity; revocation or modification of transfer on death deed; antilapse; deceased beneficiary; words of survivorship; lapse; multiple transfer on death deeds; nonademption; unpaid proceeds of sale, condemnation, or insurance; sale by conservator or guardian; nonexoneration; disclaimer by beneficiary; effect on other conveyances; notice, consent, and delivery not required; nonrevocation by will; proof of survivorship; after-acquired property; anticipatory alienation prohibited; form of transfer on death deed; and form of instrument of revocation.

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