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The following transfers are exempt from the provisions of this chapter:
A. Transfers involving real property acquired by or from any governmental body.
B. Transfers in which the deed, assignment, or other instrument of transfer secures debt or other obligations and no new or additional parties take possession of the property.
C. Transfers in which the deed, assignment, or other instrument of transfer, without additional consideration, confirms, corrects, modifies or supplements a deed, assignment, or other instrument of transfer previously recorded or delivered.
D. Transfers in which the deed is a tax deed.
E. Transfers in which the deed, assignment, or other instrument of transfer releases property which secures debt or other obligations.
F. Transfers in which the deed is otherwise pursuant to a court decree.
G. Transfers between a subsidiary corporation and its parent or between subsidiary corporation of a common parent either pursuant to a plan of merger or consolidation or pursuant to a plan of reorganization providing for the sale of substantially all of the seller's assets.
H. Transfers from a subsidiary corporation to its parent for no consideration other than the cancellation or surrender of the subsidiary's stock and transfers from a parent corporation to its subsidiary for no consideration other than the issuance or delivery to the parent of the subsidiary's stock.
I. Transfers in which the deed or other instrument of transfer is issued to the mortgagee or secured creditor pursuant to a mortgage or security interest foreclosure proceeding or sale or pursuant to a transfer in lieu of foreclosure.
J. Transfers in which an additional party is added to title and the existing or prior titleholder remains in title and continues to reside at the property.
K. Transfers by an executor or administrator to a legatee, heir, or distributee where the transfer is being made pursuant to will or by intestacy.
L. Transfers from a decedent to an executor or administrator.
M. Transfers from an incompetent to a conservator or similar legal representative, or from a conservator or similar legal representative to a former incompetent upon removal of disability.
N. Transfers from a bankrupt or person in receivership due to insolvency to the trustee in bankruptcy or receiver, from such receiver to such trustee, or from such trustee to such receiver or upon redelivery or retransfer by any such transferee or successor thereto.
O. Transfers from trustee to surviving, substitute, succeeding, or additional trustees of the same trust.
P. Transfers upon the death of a joint tenant or tenant by the entirety to the survivor.
Q. Transfers into or out of a land trust for no additional consideration and where the titleholder or beneficial owner retains possession and continues to reside at the property.
R. Upon the issuance of an occupancy permit to the owner of a newly constructed building or structure which has not been previously occupied, the building commissioner shall also issue to said owner a certificate of compliance.
S. Such other transfers which are specifically exempted by Illinois or federal law. (Ord. 09-25, 8-3-2009)