Legal Question in Real Estate Law in Illinois

It depends on the value of the house and if the Gift and Estate Tax is a problem. If it is not, and it rarely is, I would suggest retitling the house with her as "joint tenant with rights of survivorship and not as tenants in common". This can be done via a Quit Claim Deed if your lender will allow and if you are still paying a mortgage.

This would have the effect of adding her to the title, along with (I presume) yourself and your wife. From Mother and Father to Mother, Father, and Daughter. Or, from Mother to Mother and Daughter.

You should see a lawyer about this. I have seen many mis-uses of Quit Claim Deeds (frequently mis-called QUICK Claim) and it costs far less to do right than it does to fix.

Walter's answer is good. Mine is similar, but with a twist. I would put the parcel in a Land Trust. In my opinion, a cleaner operation, and you get to retain control until you die.

Depending on the circumstances, you might be better off having a living trust drafted for you.

As you can see, there are a number of options. You should contact an attorney for a consultation so you can determine what will be best for your particular situation.