Municipal Real Estate Transfer Taxes (Commercial and Residential Real Estate) (IL) | Practical Law

Municipal Real Estate Transfer Taxes (Commercial and Residential Real Estate) (IL) | Practical Law

A Practice Note discussing municipal transfer taxes on the transfer of Illinois commercial and residential real estate. This Note describes municipal requirements that may be imposed before a municipal transfer stamp or exemption stamp is issued, including inspections, final water meter readings, correction of violations, and prepayment for the stamp before closing.

Municipal Real Estate Transfer Taxes (Commercial and Residential Real Estate) (IL)

Practical Law Practice Note w-036-5739 (Approx. 10 pages)

Municipal Real Estate Transfer Taxes (Commercial and Residential Real Estate) (IL)

by Practical Law Real Estate
MaintainedIllinois
A Practice Note discussing municipal transfer taxes on the transfer of Illinois commercial and residential real estate. This Note describes municipal requirements that may be imposed before a municipal transfer stamp or exemption stamp is issued, including inspections, final water meter readings, correction of violations, and prepayment for the stamp before closing.