Real Estate Transfer Stamp Process and Requirements
Transfer Stamp Declaration/Exemption.
The property seller (or authorized representative) must submit the COMPLETED copy of the Real Estate Transfer Tax Form ONLY marked Declaration or Exemption to the Property Maintenance Div. via E-mail at firstname.lastname@example.org Jeanne Galzin (708) 499-7820 or email@example.com Lindsay Heilig (708) 499-7775, or drop off in person at the lower level of Village Hall or FAX to: (708)-499-7823 at least (5) BUSINESS DAYS prior to the date of Real Estate Transfer/Property Closing or Exemption recording. After the Real Estate Transfer Tax form has been submitted, the Property Maintenance Division will check for Liens or Fines owed to the Village Of Oak Lawn. Please include CONTACT INFORMATION in the event that Liens or Fines exist.1. Property Maintenance Division
Liens or Fines from the property, if ANY exist, need to be PAID and a Lien Payoff Letter has to be issued before the Real Estate Transfer Form will be approved for the purchase of stamps or an exemption letter can be issued. If NO Liens or Fines exist on the Property, the Real Estate Transfer Tax Form will be approved and sent to the Finance Department awaiting the Purchase of Tax Stamps or the issuance of the Exemption Letter.
2. Final Reading of Water Meter and Final Water Bill
The Seller must also contact the Oak Lawn Water Billing Division at (708) 499-7762 allowing (5) Business days’ notice prior to the date of purchasing Real Estate Transfer Stamps.
The Oak Lawn Water Meter inspector will take a Final Water Reading and will provide a Final Water Bill receipt - upon payment of the Final Water Bill by the Seller. The Real Estate Transfer Stamps will not be sold by the Finance Department without a copy of this receipt confirming that ALL Final Water Bills have been paid.
Purchase of Real Estate Transfer Stamps
The Real Estate Transfer Tax Stamps can be purchased on the Main Level-Cashier’s Window Finance of the Department. Stamps are based on Total Contract sales price, X $5.00 per thousand. Any fraction of a thousand needs to be rounded up to the next highest thousand. Payments that are accepted are: CASH, CASHIER’S CHECK, MONEY ORDER, ATTORNEY’S CHECK & VISA, and MC & DISCOVER.
The Real Estate Transfer Tax Exemption Letter will be issued at the Main Level-Cashier’s Window, Finance Department for NO CHARGE after the Real Estate Transfer Tax Exemption Form has been approved by Property Maintenance Division. A REQUIRED Xerox copy of the signed & notarized Deed and Xerox copy of the signed & notarized Statement by Grantor & Grantee is received in person or by mail included with a self-addressed stamped envelope to be returned.
If any further information is needed you may contact Janet Konopko in the Finance Department at: 708-499-7780 or by e-mail at: firstname.lastname@example.org
Real Estate Transfer Tax Refunds for: