TODI and home owners insurance (mortgage, attorney, house)

[seekdata]

I recently inherited a house in Cook County. A Transfer on Death Instrument (TODI) was filed a few years ago. The Grantor passed recently and the house has been deeded to me via TOD. Trouble is, the current/previous homeowners insurer wants to see a deed in my name to insure the property for me. Attorney tells me there is no deed other than the TODI which has been recorded. And the recording is viewable online.


In IL a TOD transfer used to require the Grantee to 'claim' the deed at the courthouse. I was told that this is no longer necessary. Online I am finding the older text of the TOD in IL where one must claim and change the deed. Is the text or online which states that the TOD is valid without changing the owners name. If I understand this situation correctly, there is nothing to change, except the understanding of the insurer/underwriter.


Puzzled in cook county

[MarianRavenwood]

I'm not certain but I think either the Attorney is either misinformed or maybe explained things badly.

You should still file this document: https://www.cookcountyclerkil.gov/si...0Affidavit.pdf


It's not required. But it will help speed things up. The TODI can have multiple beneficiaries. The owner is supposed to list name and address, but you don't list phone number or email. So without the affidavit, they have to determine
--do the listed beneficiaries actually accept/want the property?
--Did any of the listed beneficiaries predecease the owner?
--If so, how did the owner dictate that the remaining beneficiaries split the proceeds?
--Are the beneficiaries still living at the address listed on the TODI, for notification and record purposes (and to what address should they send your tax bill to )?
--If all beneficiaries are pre-deceased, then all the above questions have to be addressed for the contigent beneficiaries


This isn't as arduous as probate and nothing about it calls into question who is the rightful beneficiary. But they still need to be resolved before they can issue a new deed. And the clerk's office is not known for their speed. Submitting the affidavit answers some of these questions so they can get on with the paperwork.


But I don't believe the TODI serves as your deed. I've never heard that. I think either the attorney explained it badly or was misinformed about Illinois law.


BTW--I'm not sure if that's the latest document....county reorganized recently and now Karen Yarbrough is the County Clerk, not the Recorder of Deeds. But I can't find another updated version with her new title. Maybe someone else will come along to share it.

[seekdata]

I understand the situation more fully now. I had seen the acceptance document. That was when I contacted my attorney and he said I did not have to file. My delay in filing at this point is that I live in the Northeast. And I am recovering from a catastrophic injury.


The county has already recorded my name and SSN, as well as a contingent name if I predeceased the grantor along with their relationship. Tax billing and insurance are currently paid through the mortgage holder. I intend to file a TODI to my beneficiary when I accept the property transfer to me.




Thank you Marian for your reply,