![]() The term is often associated with real estate, where a conveyance is the written contract existing between the buyer and the seller stating the purchase price agreed on and also the actual transfer date, and also both parties obligations and responsibilities. Conveyance also means the written instrument, like a lease or deed which transfers a property's legal title from the seller to the buyer. A representative of the seller may call in advance to inquire about any possible amounts due.Back To: Real Estate, Personal, & Intellectual Property What is a Conveyance?Ĭonveyance involves the transfer of ownership interest in the property from a party to another one. ![]() NOTE: All monies due related to the subject property (including, but not limited to, final water bill, fees and fines) must be paid before a Real Estate Transfer Stamp will be issued. ![]() A late fee of $200 per month will apply on the 31st day and every 30 days thereafter. Should you have any additional questions, please feel free to give the Finance Department a call at (847) 394-8500.Īll transfer stamps, including exempt stamps, must be acquired within thirty days of the date of transfer. Batches of six or more will be available two days later, at 10:00 a.m.įurther instructions are attached to the City of Rolling Meadows Real Estate Transfer Tax Form (PDF). If more than two applications are submitted, the forms must be dropped off and may be picked up three hours later, or the next morning. ![]() If submitted after 3:30 p.m., the stamp will be ready for pick up after 10AM the next business day. Real Estate Transfer Tax Forms are processed daily between 8:00 a.m. In order to acquire the stamp in person, bring all necessary documents shown on the Real Estate Transfer Tax Form (PDF) to the Finance Department on the first floor of City Hall. You may also pay the amount due online via the Illinois e-pay electronic payment website .Īll required documents and payments should be mailed to: If the wrong amount is received we will return all forms and payment without issuing the stamp. It is important that the payment amount is correct-make sure to double check your calculations. In order to acquire the Real Estate Transfer Stamp by mail, send all the necessary documents as shown on the Real Estate Transfer Tax Form (PDF), along with an acceptable form of payment (personal or business checks or money orders) and a self addressed, postage paid return envelope. There are two methods in which you can acquire the Real Estate Transfer Tax Stamp: ![]() Inquire for further information at (847) 394-8500 or email the finance department. You may be eligible for a refund of the Real Estate Transfer Tax if you move within the City of Rolling Meadows. The Final Utility Bill, in addition to all outstanding fines and fees, must be paid in order to receive the Real Estate Transfer Stamp. Final water readings are typically done 48 hours before the closing date. Real Estate Transfer Stamps are typically paid by the property's seller, however new owners of foreclosed properties may be required to pay for the Real Estate Transfer Stamp.Īside from providing the needed documents, in order to obtain a Real Estate Transfer Stamp you must call (847) 394-8500 to schedule a final water reading. The City of Rolling Meadows' Real Estate Transfer Stamps are $3 per $1,000 of the property's sales price then rounded up to the next full dollar. Real Estate Transfer Stamps are required for property sold in the City of Rolling Meadows (some Palatine mailing addresses are subject to this Fee). ![]()
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