A Granter Grantee Statement refers to a legal document that records the transfer and ownership of real property in the state of Illinois. It serves as an official record of the sale, donation, or transaction of property within the state. The document provides important information regarding the parties involved in the transfer, including the granter (the person transferring ownership) and the grantee (the person receiving ownership). In Illinois, there are various types of Granter Grantee Statements, each serving a specific purpose. These include: 1. Warranty Deeds: A Warranty Deed is the most common type of Granter Grantee Statement used in Illinois. It assures the grantee that the granter holds clear title to the property and guarantees that they will defend the title against any claims. 2. Quitclaim Deeds: A Quitclaim Deed is another type of Granter Grantee Statement that transfers the rights of the granter to the grantee. However, it does not provide any warranties or guarantees regarding the title. It is commonly used in situations where there is no monetary exchange and the transfer is made between family members or during a divorce. 3. Special Warranty Deeds: Special Warranty Deeds are frequently used in commercial real estate transactions. They guarantee that the granter has not incurred any defects or claims during the time they owned the property, except for any issues caused by the grantee. 4. Trustee's Deeds: Trustee's Deeds are utilized when a property is held in a trust. The trustee, who acts on behalf of the beneficiary of the trust, transfers the property to the grantee. Granter Grantee Statements in Illinois are crucial as they establish a clear chain of ownership and protect the rights of both parties involved. These documents are typically recorded with the county recorder's office to ensure their validity and accessibility for future reference. Keywords: Granter Grantee Statement, Illinois, real property, transfer of ownership, Warranty Deed, Quitclaim Deed, Special Warranty Deed, Trustee's Deed, county recorder's office.
Grantor Grantee Statement With Illinois
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How to fill out Grantor Grantee Statement With Illinois?
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The grantor or his agent affirms that, to the best of his knowledge, the name of the grantee shown on the deed or assignment of beneficial interest in a land trust is either a natural person, an Illinois corporation or foreign corporation authorized to do business or acquire and hold title to real estate in Illinois, a ...
Real Estate Documents Prepared By. Return To. Grantor and Grantee. Documents must be original. Upper right hand corner must have a 3? x 5? space for recording information. Legal description, Parcel number and address. Notary Seal, Date and Signature. Signatures.
In Illinois, the property records are located at the county recorder. You can go there in person to conduct a search or you can check the county recorder's website to see if they offer online searching.
Even though an unacknowledged deed is a valid conveyance, there are several reasons to properly acknowledge deeds. First, the unacknowledged deed cannot be read into evidence without further proof of execution. 765 ILCS 5/31, 5/35. That is, an unacknowledged deed is not self-proving.
The transfer of ownership of real estate is a complex process. In fact, the Illinois Supreme Court has recognized that the preparation of a deed is considered the practice of law. This means that non-attorneys are barred from preparing deeds on behalf of anyone other than themselves.