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IL SB2309

Bill

Official Source

Status

Passed

8/10/2018

Primary Sponsor

John Mulroe

Click for details

Origin

Senate

100th General Assembly

AI Summary

  • Amends the Trusts and Trustees Act (760 ILCS 5/6.5) concerning transfer of real property to trusts
  • Removes the requirement that trustees must formally accept a written instrument of conveyance for real property transfers to be valid
  • Eliminates the requirement that when a trustee transfers property to a trust, the conveyance instrument must be recorded in the county recorder's office for the property to become trust property
  • Effective date: January 1, 2017

Legislative Description

TRUSTS: TRANSFER OF PROPERTY

Last Action

Public Act . . . . . . . . . 100-0786

8/10/2018

Committee Referrals

Judiciary - Civil4/26/2018
Rules3/21/2018
Judiciary1/30/2018
Assignments1/17/2018

Full Bill Text

No bill text available