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How to Transfer a Real Estate Title in Bolingbrook, IL

Transferring a real estate title in Bolingbrook, Illinois, is a crucial legal procedure that officially moves property ownership from the seller to the buyer. Whether you're selling your primary residence, purchasing a new investment, gifting a property to a family member, or handling an estate, understanding the title transfer process is essential for ensuring a smooth, legally binding transaction. Bolingbrook spans Will and DuPage counties and is known for its residential appeal, economic growth, and strong municipal regulations.

This comprehensive guide covers every step of the title transfer process in Bolingbrook — from gathering documents and resolving municipal debts to recording the deed at the correct county office. We’ll also provide helpful links and local resources so you can confidently complete your title transfer.

Preparation Before Title Transfer

Before initiating the title transfer, the buyer and the seller must complete several critical preparations. These steps lay the groundwork for a seamless transfer and help prevent legal or financial complications.

Gather Required Documents

The following documents are typically required:

• Original Deed: Demonstrates the current ownership of the property. This document must include the property’s legal description and reflect the correct ownership structure.

• PTAX-203 Transfer Declaration Form: Required by the State of Illinois for all real estate transfers. It records the transaction details, such as purchase price and exemptions, and is filed along with the deed.

• Bolingbrook Residential Transfer Information and Disclosure Form: A Village-specific document that discloses property condition and history. It must be filled out by the seller and acknowledged by the buyer.

• Clearance Letter: Confirms that no outstanding municipal debts exist, such as unpaid water bills or citations.

Confirm Title Clarity

A title search is conducted to verify that the title is free from defects such as:

• Outstanding mortgages

• Tax liens

• Legal judgments

• Ownership disputes

A clean title ensures the buyer receives full and undisputed property ownership. Title companies or attorneys often handle this step and issue title commitment documents summarizing findings.

Optional: Property Survey and Inspection

While not required for title transfer, a property survey helps verify boundaries, while a home inspection highlights potential structural or code issues. These steps provide assurance for both parties and are often part of real estate transactions involving financing.

Bolingbrook Municipal Requirements

The Village of Bolingbrook has specific requirements to be satisfied before a real estate title can be legally transferred.

Real Estate Transfer Tax and Transfer Stamps

Bolingbrook imposes a local transfer tax of $7.50 per $1,000 of the sale price, rounded to the nearest $500. Transfer stamps are affixed to the deed to signify tax payment and are required before the deed can be recorded.

Steps to Obtain Transfer Stamps:

1. Submit Required Documents:

   • PTAX-203 form

   • Bolingbrook Transfer Disclosure Form

   • Draft copy of the deed

   • Village Clearance Letter

2. Calculate and Pay Tax:

   • The Village calculates the tax based on the sale price.

   • Payment is made via certified check, money order, or credit/debit card.

3. Receive Transfer Stamps:

   • The process usually takes 24–48 hours.

   • The Village affixes the stamps, which must be submitted with the deed during recording.

Clearance Letter for Utility Bills and Municipal Debts

The Clearance Letter confirms there are no unpaid:

• Water and sewer bills

• Garbage collection fees

• Building code violations

• Property-related citations

To obtain a clearance letter:

• Contact the Bolingbrook Finance Department

• Provide property address and closing date

• Allow several business days for processing

Legal Execution of the Title Transfer

Once local requirements are met, the formal legal transfer of the property can proceed.

Drafting the Deed

The deed is the core legal document in the title transfer. The two most common types in Illinois are:

• Warranty Deed: Offers the buyer full legal protection against future title claims. Includes guarantees from the seller that the property is free of encumbrances.

• Quitclaim Deed: Offers no warranty or protection. Often used for family transfers, divorce settlements, or estate distributions.

A real estate attorney or title company typically drafts the deed to ensure it complies with Illinois law and contains:

• Legal description

• Names of grantor (seller) and grantee (buyer)

• Purchase price or consideration (if applicable)

• Parcel Identification Number (PIN)

• Date of conveyance

Signing and Notarizing the Deed

The grantor must sign the deed in the presence of a notary public, who verifies identities and acknowledges the document. Illinois law does not require the grantee to sign, but it is common in many transactions.

Recording the Deed with the County

The deed must be recorded with the Recorder’s Office in the county where the property is located. This finalizes the transfer and provides public notice of the change in ownership.

If the property is in Will County:

• Will County Recorder of Deeds

  • 302 N. Chicago Street, Joliet, IL 60432

  • Phone: (815) 740-4637

  • Website: willcountyrecorder.com

If the property is in DuPage County:

• DuPage County Recorder’s Office

  • 421 N. County Farm Road, Wheaton, IL 60187

  • Phone: (630) 407-5400

  • Website: dupagecounty.gov

Include the following when recording:

• Original signed and stamped deed

• PTAX-203 form

• Proof of transfer tax payment (transfer stamps)

• Recording fee ($60–$75 depending on page count)

Once recorded, the deed is officially part of the public record and serves as proof of legal ownership.

Closing the Transaction

The closing is the final meeting at which ownership officially changes hands. It is often coordinated by a title company or real estate attorney.

Review of the Settlement Statement

Also known as the HUD-1 or ALTA statement, this document outlines:

• Sale price

• Property taxes

• Title and recording fees

• Transfer tax amounts

• Utility prorations

Both buyer and seller must review and sign to acknowledge accuracy.

Transfer of Funds

The buyer is responsible for bringing:

• Purchase funds

• Down payment (if applicable)

• Closing costs (taxes, title fees, insurance)

Funds are usually wired to an escrow account. The closing agent disburses funds accordingly — paying off any mortgages and issuing net proceeds to the seller.

Issuance of Title Insurance

Owner’s title insurance protects the buyer against unknown claims to the property that were not found during the title search. If the buyer is using a mortgage, lender’s title insurance is typically required. Though optional for the buyer, owner’s title insurance is highly recommended.

Delivery and Recording of the Deed

Once signed and funds are disbursed:

1. The deed is handed to the buyer (or closing agent).

2. It is then recorded with the county.

3. The new owner’s name is updated in the property records.

Post-Closing Responsibilities

After the transaction is complete, both the buyer and seller should take the following steps:

Buyer To-Do List:

• Confirm deed was recorded with the appropriate county

• Ensure name is listed on county property tax records

• Set up new utility accounts (water, electricity, gas)

• Apply for property tax exemptions:

  • General Homestead Exemption

  • Senior Citizen Exemption (if eligible)

  • Veterans or Disabled Persons Exemptions

Seller To-Do List:

• Retain a copy of the signed deed and closing documents

• Report the sale on state and federal income tax returns

• Cancel insurance policies and utility services tied to the property

Special Situations in Title Transfers

Gifting Property or Family Transfers

If property is transferred between family members (e.g., parents to children), a quitclaim deed is usually used. The process is still subject to municipal clearance and may require transfer tax if compensation is involved.

Transferring Property After Death

In estate situations:

• A surviving joint tenant can file a Joint Tenancy Affidavit and death certificate.

• Transfers via probate require letters of office and court approval.

• Transfer on Death Instruments (TODI) can simplify the process if prepared in advance.

Divorce-Related Transfers

Property awarded in a divorce is often transferred using a quitclaim deed. Include the divorce decree and ensure the transfer is recorded.

Helpful Resources

• Village of Bolingbrook: https://www.bolingbrook.com

• Will County Recorder of Deeds: https://www.willcountyrecorder.com

• DuPage County Recorder of Deeds: https://www.dupagecounty.gov/elected_officials/recorder/

• Illinois Department of Revenue PTAX Forms: https://www2.illinois.gov/rev/forms/PTAX/

• Illinois Title Standards (via Illinois State Bar Association): https://www.isba.org

Conclusion

Transferring a real estate title in Bolingbrook, Illinois, is a multi-step process that involves municipal compliance, legal documentation, and county recording. From obtaining a clearance letter and paying local transfer tax to drafting and recording a valid deed, each step must be followed carefully to ensure a valid and enforceable title transfer.

Whether you're completing a traditional sale, transferring property within a family, or handling an estate matter, being familiar with local requirements and enlisting professionals like title companies or attorneys can help you avoid delays and legal pitfalls. By using this guide and the resources provided, you can complete a real estate title transfer in Bolingbrook with confidence and accuracy.