As an Owner/Beneficiary how do I...?
Establish a New Land Trust?
- Contact us to reserve a land trust number. We will ask for the property address, type of property, and value of
property - Download and Complete the Trust Agreement Form and W9 Form
- Send the original signed trust agreement, W9, and
copy of State ID to Bank of Bourbonnais on behalf of First Nations Bank Land Trust Department - Download and complete the appropriate Quit Claim Deed in Trust Form or Warranty Deed
- Add the transfer tax stamps (if applicable) and exemption statement
- Complete a Grantor/Grantee Statement (applicable only in Cook County. Form available on the county website.)
- Record the deed with the county recorder's office in the county where the property is located.
Amend an Existing Trust - Contingent Beneficiaries?
- Download and complete the Amendment of Contingent Beneficial Interest form. This form is signed by the beneficiary.
- Send the
original signed amendment to Bank of Bourbonnais on behalf of First Nations Bank Land Trust Department for acceptance.
Amend an Existing Trust - Assignment of Beneficial Interest?
- Download and complete the Assignment Form
and
W9 Form.
- The current and new beneficiaries sign the assignment and the new beneficiary signs the W9
- Download and complete the Facsimile Assignment of Beneficial Interest to
indicate whether the transaction is subject to a transfer tax.
- If the transaction is exempt and the property is located outside of Cook County, you do NOT need to record it
- Send the original assignment, facsimile assignment, W9, and copy of State ID to First Nations Bank Land Trust Department for acceptance.
Close a Trust / Transfer Property Out Of a Land Trust?
- Call us 1-773-594-5900 to verify fees and signature requirements.
- Download and complete the Direction to Convey form.
Have this form signed by the beneficiary or holder of
power of direction if different than the beneficiary. - Send the original signed Direction to Convey form and fee payment to Bank of Bourbonnais on behalf of First Nations Bank Land Trust Department. We will prepare the deed and related documents according to the direction.
To make form completion easier, please save the blank form to your computer before entering your information and then SAVE AGAIN after completing the form.