Quitclaim Deed In Illinois

State:
Illinois
Control #:
IL-07-77
Format:
Word; 
Rich Text
Instant download

Description

The Quitclaim Deed in Illinois is a legal document used to transfer ownership of real estate from an individual (the grantor) to a Limited Liability Company (the grantee). This form acknowledges the transfer for a nominal consideration, often cited as ten dollars, plus any additional valuable considerations agreed upon. It contains a detailed legal description of the property being conveyed and requires the grantor's signature, notarization, and the inclusion of important information such as the parcel identification number. This document is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a straightforward method to facilitate property transfers without guaranteeing the title's validity. Users must complete the form accurately and ensure all necessary attachments are included. The Quitclaim Deed also includes provisions regarding the waiver of homestead rights and any reservations of mineral rights, making it comprehensive in addressing potential claims and rights associated with the property. Overall, this form serves as an essential instrument in real estate transactions within the state of Illinois.
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How to fill out Illinois Quitclaim Deed From Individual To LLC?

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FAQ

LEGAL FEES - ILLINOIS QUIT CLAIM DEEDS The fee is $150 (or $160 if paid by credit card). It will be your responsibility to get the transfer stamps (if necessary) and get the deed recorded with the County Recorder. There is nothing legal about obtaining the municipal stamp and recording the deed.

How do you file a quitclaim deed form in New York? A legal description and address of the property being deeded. The county the property is located in. The date of the transfer. The grantor's (person relinquishing ownership) name. The grantee's (person receiving ownership) name.

Before you file the deed, get a tax stamp from the local municipality where the property is located. When you're ready to file the deed, bring it to the County Recorder of Deeds, where they will stamp and file the deed. You'll have to pay a fee for recording, or filing, the deed.

How Do Homeowners Add Spouses to Property Deeds? One of the most common ways property owners add spouses to real estate titles is by using quitclaim deeds. Once completed and filed, quitclaim deed forms effectually transfer a share of ownership from the owners, or grantors, to their spouses, or the grantees.

If you're preparing the quitclaim deed yourself, make sure to enter the property description just as it appears on an older deed of the property. If you can't find an old deed, check with the County Recorder of Deeds in the county where the property is located. They can tell you where to get a copy of an earlier deed.

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Quitclaim Deed In Illinois