Legal Question in Real Estate Law in Illinois

You need to create a new deed and transfer the house just like you would if you were selling the house. There would be closing costs involved and possibly sales tax depending on the circumstances, but more information is needed.

more information is needed

What is your goal? Tax free gift? If so federal tax law allows an annual gift with no gift tax but that entails fairly precise drafting because only partial interests can be given at a time. There would be no transfer tax if it is an exempt gift (actual consideration under $500), but the Assessor could take a look annually at each transfer and bump property taxes up. So if this is part of an estate plan (sounds like it?) or to get the property out of your name in case you need to contemplate a nursing home at a future date, don't "fart around". Have a tax lawyer or CPA help you structure this properly and then have an attorney properly write up the deed and any other paperwork you need. You may need an annual appraisal of sorts to verify value transferred.

The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of Illinois. Responses are based solely on Illinois law unless stated otherwise.