HB1153sam001 97TH GENERAL ASSEMBLY

Sen. A. J. Wilhelmi

Filed: 5/6/2011

09700HB1153sam001 LRB097 00025 AJO 54899 a

AMENDMENT TO HOUSE BILL 1153

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

"Section 40. Requirements.

(a) A transfer on death instrument:"; and

on page 4, below line 6, by inserting the following:

"(b) The failure to comply with any of the requirements of subsection (a) will render the transfer on death instrument void and ineffective to transfer title to the residential real estate at the owner's death."; and

on page 10, line 3, after the period, by inserting the following: "If a notice of death affidavit and acceptance has not been filed by at least one beneficiary or by a beneficiary's authorized representative in the office of the recorder in the county or counties where the residential real estate is located within 30 days after the owner's death, the personal representative of the owner's estate, if any, may take possession of the residential real estate in accordance with Section 20-1 of the Probate Act of 1975, and shall be entitled to a lien for all reasonable costs and expenses incurred in the management and care thereof provided that a reasonable attempt to notify the beneficiary or beneficiaries has been made. If a notice of death affidavit and acceptance has not been filed by at least one beneficiary or by the beneficiary's authorized representative in the office of the recorder in the county or counties where the residential real estate is located within 2 years after the owner's death, the transfer on death instrument shall be void and ineffective and the residential real estate shall pass to the owner's estate as provided in paragraph (2) of subsection (a) of Section 65 to be administered and distributed in accordance with the terms thereof."; and

on page 10, line 5, by replacing "Disclaimers" with "the Disclaimer"; and

on page 10, by replacing lines 16 through 22 with the following:

"Section 95. Preparation of a transfer on death instrument or its revocation. A transfer on death instrument or its revocation shall be prepared only by an Illinois licensed attorney. Nothing in this Section, however, shall prohibit an owner from preparing his or her own transfer on death instrument or revocation."; and

on page 11, by deleting lines 1 through 4.