Under Illinois law, who bears the default statutory obligation to pay the state real estate transfer tax at closing?
Correct Answer
D) The seller, because the tax is imposed on the transfer of the deed
Under 35 ILCS 200/31-20, the Illinois state real estate transfer tax is imposed on the transferor (seller) as the party conveying the deed. The seller is responsible for affixing the required revenue stamps before the deed is recorded. While parties may contractually shift this obligation, the statutory default places it on the seller.
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