Illinois Compiled Statutes 755 ILCS 27/50 – Notice, delivery, acceptance, or consideration not required
Current as of: 2024 | Check for updates
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Other versions
A transfer on death instrument is effective without:
(1) notice or delivery to or acceptance by the
(1) notice or delivery to or acceptance by the
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designated beneficiary during the owner’s life; or
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(2) consideration.
Terms Used In Illinois Compiled Statutes 755 ILCS 27/50
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC