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Real Estate Transfer Declaration - Cook County Form. This is a Illinois form and can be use in Cook Local County.
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COOK COUNTY
REAL ESTATE TRANSFER DECLARATION
The following is required by the Cook County Real Property Tax Ordinance effective
September 1, 1993. Any transferor of transferee who fails to file with the Recorder a real
property transfer declaration as required by Section 7 of this ordinance or a supplemental
transfer declaration as required by Section 10 of this ordinance or willfully falsifies the value
of transferred real estate, shall be subject to a penalty equal to the amount of the applicable
tax; and shall be fined an amount not to exceed $1000.00 or imprisoned for a period not to
exceed six months, or both.
Except as to Exempt Transactions, the Recorder is prohibited by law from accepting any
deed, assignment or other instrument of transfer for recordation unless it is accompanied by
a declaration containing all of the information requested therein.
Recorder's Validation
PROPERTY IDENTIFICATION:
Address of Property
Street or Rural Route
City
Permanent Real Estate Index No.
Zip Code
Township
Type of Deed
Date of Deed
TYPE OF PROPERTY:
Single Family
INTEREST TRANSFERRED
Fee title
Commercial
Condo, co-op
Industrial
4 or more units (residential)
Vacant Land
Other (attach description)
Lessee interest in a ground lease
Mixed use (commer. & resid.)
Controlling interest in real
estate entity (ord. Sec. 2)
Beneficial Interest in a land trust
Other (attach description)
LEGAL DESCRIPTION:
Sec.
Twp.
COMPUTATION OF TAX:
Range
Full actual consideration
$
Less amount of personal property
included in purchase
$
(Use additional sheet, if necessary)
Net consideration for real estate
$
Less amount of mortgage to which
property remains subject
$
Net taxable consideration
$
Amount of tax stamps
($.25 per $500 or part thereof)
$
ATTESTATION OF PARTIES: We hereby declare the full actual consideration and above facts contained in this declaration to be true and correct.
Name and Address of Seller (Please Print)
Street or Rural Route
City
Zip Code
Street or Rural Route
City
Zip Code
Signature:
Seller or Agent
Name and Address of Buyer (Please Print)
Signature:
Buyer or Agent
Use space below for tax mailing address, if different from above.
EXEMPT TRANSFERS
(Check the Appropriate Box)
Exempt transfers are subject to the requirement contained in subsection 7(c) of this ordinance.
7(c)
"No transfer shall be exempt from the tax imposed by this ordinance unless the declaration
describes the facts supporting the exemption and is accompanied by such supporting
documentation as the Recorder may reasonably require."
A. Transfers of real property made prior to May 21, 1979 where the deed was recorded after that date or
assignments of beneficial interest in real property dated prior to August 1, 1985, where the assignment was delivered
on or after August 1, 1985;
B. Transfers involving real property acquired by or from any governmental body or acquired by any corporation,
society, association, foundation or institution organized and operated exclusively for charitable, religious or educational
purposes or acquired by any international organization not subject to local taxes under applicable law;
(Copy of IRS granting tax exempt status must be attached)
C.
Transfers in which the deed, assignment or other instrument of transfer secures debt or other obligations;
D. Transfers in which the deed, assignment or other instrument of transfer, without additional consideration,
confirms, corrects, modifies, or supplements a deed, assignment or other instrument of transfer previously recorded or
delivered;
E.
Transfers in which the transfer price is less than $100.00;
F.
Transfers in which the dead is a tax deed;
G. Transfers in which the deed, assignment or other instrument of transfer releases property which secures debt or
other obligations;
H. Transfers in which the deed is a deed of partition; provided, however, that if a party receives a share greater than
its undivided interest in the real property, then such party shall be liable for tax computed upon any consideration paid
for the excess;
I.
Transfers between a subsidiary corporation and its parent or between subsidiary corporations of a common
parent either pursuant to a plan of merger or consolidation or pursuant to an agreement providing for the sale of
substantially all of the sellers assets;
J.
Transfers from a subsidiary corporation to its parent for no consideration other than the cancellation or surrender
of the subsidiary's stock and transfers from a parent corporation to its subsidiary for no consideration other than the
issuance or delivery to the parent of the subsidiary's stock;
K. Transfers made pursuant to a confirmed plan of reorganization as provided under section 1146 (c) of Chapter 11
of the U.S. Bankruptcy Code of 1978, as amended;
Provide bankruptcy court docket number:
;
L.
Deeds representing transfers subject to the imposition of a documentary stamp tax imposed by the government
of the United States, except that such deeds shall not be exempt from filing the declaration; and
M. Transfers in which the deed or other instrument of transfer is issued to the mortgagee or secured creditor
pursuant to a mortgage or security interest foreclosure proceeding or sale or pursuant to a transfer in lieu of
foreclosure.