Village ordinance requires the seller of property located within the Village limits purchase transfer stamps. These stamps are required for the seller to transfer that properly to a new owner, and for a new deed to be recorded. Whether a transfer is exempt or non-exempt, any monies due to the Village must be paid prior to the transfer. When the ownership of a property is changing without a change of occupancy inspection, please provide a signed and notarized Buyer Letter.
Purchasing a transfer stamp
To purchase transfer stamps, you will need to fill out a Transfer Declaration Form. The Building Department will verify the information on the Transfer Declaration Form. The original form is required. A copy of the signed and dated sales contract is required when purchasing transfer stamps. Stamps are generally purchased by the seller a day or two before the closing is scheduled.
The Information Needed includes:
- address of the property being sold
- property index number (the tax ID number)
- type of deed you are conveying to a new owner (warranty, special warranty, trust, deed, quit claim, etc.)
- name and current address of both buyer and seller
- seller’s signature (seller’s agent or attorney may sign for the seller) The fee is based on $5.00 per $1,000 of the purchase price. (Effective 8-15-95)
To process an exempt stamp, please provide:
- the original, fully executed deed
- the deed must have an exemption clause, listing the paragraph and section number of the Property Tax Code as to why the transaction is exempt
- the completed original Village of Park Forest Transfer Declaration Form
- notarized grantor/grantee statement
- $15 processing fee (effective 1-1-2000)
- exemption fee may be paid by cash, credit card, or check