When you buy or sell a home in the Town of Cicero, it’s important to understand that this process is classified as a “transfer” of real estate. But what exactly does “transfer” mean in this context? Let’s break it down:
What Constitutes a Transfer?
1. Conveyance of Real Property: This includes the process of transferring property through a deed, articles of agreement for a deed, or assigning the beneficial interest under a land trust.
2. Use of Real Property as Loan Collateral: If real property is used as collateral for a loan, this is also considered a transfer.
3. Changes in Land Trust Beneficiaries: Any transaction that involves adding a present beneficiary to a land trust falls under the category of a transfer.
By understanding these definitions, you can navigate the real estate process in Cicero with greater clarity and confidence.
There Are Two Essential Steps You Must Complete To Ensure A Smooth And Lawful Transition:
1. Purchase Real Estate Transfer Stamps: This is a mandatory step in the transfer process. Real Estate Transfer Stamps are required as part of the transaction and must be acquired.
2. Obtain A Certificate of Compliance: Ensuring that the property meets all the necessary standards is crucial. A Certificate of Compliance confirms that the property is in line with all applicable building codes and Town Ordinances. This certificate is vital for the legal transfer of the property.
Completing these two steps is crucial for any real estate transfer in Cicero. They not only comply with legal requirements but also ensure that the property is safe and up to standard. In Cicero, Real Estate Transfer Stamps are a non-negotiable requirement for ALL real estate transfers. This applies even to transactions that are otherwise exempt from certain regulations. While the Certificate of Compliance, which verifies adherence to building codes and ordinances, is required for most transactions, it is not necessary for those classified as exempt.
Not All Transfers Require The Same Level Of Scrutiny. Some Exempt Categories Include:
1. Court-Ordered Transfers: This includes transfers via tax deeds, sheriff’s deeds, or those made pursuant to orders by local, county, state, or federal courts.
2. Vacant Land Transfers: Transactions involving only vacant land are exempt.
3. No Change In Ownership Interest: Transfers that do not result in a new party acquiring ownership or beneficial interest in the property.
4. Familial Transfers: Adding a spouse to a deed, as outlined in Section 22-281 of the Code of Ordinances of the Town of Cicero (effective since 3/24/2017), falls under this category.
For these exempt transfers, neither inspections nor a Certificate of Compliance are required.
The Compliance Process is an essential step in ensuring that your property transfer meets the Town of Cicero’s regulations. Here’s what it involves:
1. Property Inspection By A Town Building Inspector: The initial step involves a thorough inspection of the property by a qualified Town of Cicero Building Inspector.
2. Receiving A Compliance Checklist: After the inspection, the property owner will receive a detailed list of all aspects that are not in compliance with the Town’s Code.
3. Bringing the Property Up to Code: Before a Certificate of Compliance can be issued, the property must be brought into full compliance with the Town’s Code. This is a crucial step to finalize the transfer process.
Important Advisory
It’s advisable to regularly consult with the Town of Cicero Building Department Compliance Staff throughout this process for accurate and up-to-date guidance. The compliance process is comprehensive and involves reviewing multiple aspects of the property. Please allocate ample time for this process to ensure a smooth and successful transfer.
Options For Selling Or Transferring A Home In Cicero
When it comes to selling or transferring a home in the Town of Cicero, there are three distinct methods available. Each method has its own set of requirements and processes:
1. Selling With A Current Certificate of Compliance: This approach is used when the seller has already brought the property up to code compliance. The property meets all the requirements set by the Town of Cicero, making it a straightforward transfer for the buyer.
2. “As-Is” Sale: In an “As-Is” sale, the buyer assumes the responsibility of bringing the property into code compliance. After the purchase, the buyer will need to obtain a Certificate of Compliance by ensuring the property meets all the necessary standards and codes.
3. Exempt Transaction: Certain transfers are classified as exempt and have different requirements. These typically include specific types of transfers such as familial transfers, court-ordered transfers, transactions involving vacant land, etc., where standard compliance processes may not apply.
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Cicero Town Hall
4949 West Cermak Road
Cicero, IL 60804
(708) 656-3600
Hours
Monday thru Friday
8AM -6PM
