QUESTION
How do we (the 4 children) get the deed transferred in our names without incurring large fees?
Asked on Mar 29th, 2015 on Estate Planning - Illinois
More details to this question:
My mom passed away in 2012. She had a will and left her home to her 4 children. My mother's name is still on the deed. We are not planning selling the home.
3 ANSWERS
Estate Planning Attorney serving La Grange, IL
at
Law Office of T. Phillip Boggess
Update Your Profile
You are going to have to open a probate estate since I assume the house and her other assets were worth over $100,000. Once you have it open, you can quit claim the deed to the four of you. Unfortunately, I don't think you'll find a way around starting the probate estate. Let me know if you need any assistance.
Answered on Apr 01st, 2015 at 4:39 AM
Commercial Attorney serving Chicago, IL
at
Ashcraft & Ashcraft, Ltd.
Update Your Profile
In Illinois, the only way to transfer real property that is titled in the name of a decedent is to open a probate and have the court appointed estate representative transfer the property to the heirs. The Will must be approved by the Court so the directions in the Will can be relied upon by third parties. There is a filing fee, a fee for publication to possible creditors and some attorney's fees to open and close the estate.
Answered on Mar 31st, 2015 at 12:36 PM
If more than two years have passed all the heirs could sign an affidavit of heirship and a deed transferring ownership to them . They would have to pay the title fees, which might equal any legal fees.
Answered on Mar 31st, 2015 at 12:35 PM