Transfer tax
Illinois and Cook County transfer taxes apply, and Chicago adds its own city transfer tax. A PTAX-203 declaration goes with most deeds. Deeds with no consideration are commonly exempt, and we confirm the treatment when we prepare yours.
Real Estate with Causes accepts donated real estate anywhere in Chicago: houses, condos, land and commercial buildings. A Chicago real estate donation follows Illinois’s deed, transfer tax and recording rules, which we handle. We prepare the deed and record it with the Cook County recorder.
Federal tax rules are the same in every state. These three things are set by Illinois and Cook County.
Illinois and Cook County transfer taxes apply, and Chicago adds its own city transfer tax. A PTAX-203 declaration goes with most deeds. Deeds with no consideration are commonly exempt, and we confirm the treatment when we prepare yours.
We prepare the deed in the form customary in Illinois for a gift, so you are not warranting more than you should.
Deeds are recorded with the Cook County recorder for Cook County. You sign before a notary wherever you live, and we handle the filing.
The property types Chicago donors bring us most often. Each links to the full guide for that type, including how it compares to selling.
Illinois and Cook County transfer taxes apply, and Chicago adds its own city transfer tax. A PTAX-203 declaration goes with most deeds. Deeds with no consideration are commonly exempt, and we confirm the treatment when we prepare yours.
No. We prepare the deed in the form Illinois requires for Cook County, you sign before a notary where you live, and we record it with the Cook County recorder.
Illinois has a state income tax, and whether and how it follows the federal charitable deduction is set by Illinois law. Your advisor can confirm how it applies to you.
Reviewed, not refused. What matters is whether the taxes owed are well below what the property can sell for. Delinquent taxes are a lien, so they are handled before or at transfer, and where Illinois or Cook County rules require payment first we plan around that with you.
Often, within the authority the will and the Illinois probate court give the personal representative. If the property passed outside probate, the heirs on title sign together. Tell us where the estate stands and we will tell you who needs to sign.
We do not provide tax or legal advice. State transfer tax rules change; we confirm current requirements when we prepare each deed. Consult your own advisor.
The address or a parcel number is enough to start.