Real Estate Transfer Declaration Forms (PTAX-203)
Illinois State statutes require that a Real Estate Transfer Tax Declaration be completed and submitted with all DEEDS and FACSIMILES, unless they are exempt under Chapter 120, Paragraph 1004, (except for Paragraphs B, K, and M which require a completed Transfer Tax Declaration in ADDITION to the exemption statement on the deed)., When the Veteran's Administration (VA) is the GRANTEE on a deed, a Transfer Tax Declaration is NOT required. However, when the VA is the GRANTOR, a completed Declaration is required.
Click here for the full text of allowed exemptions.
In all cases when an exemption statement is used, the following are required:
- The exemption must be stamped or typed on the deed.
- The appropriate exemption paragraph reference must be inserted.
- The exemption statement must be dated and signed by either the buyer, seller or a representative.
State and County Real Estate Transfer Tax due
MUST be paid at the time the deed is recorded.
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