Illinois Sample Letter for Quitclaim Deed
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How to fill out Sample Letter For Quitclaim Deed?
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In order to be valid, the quitclaim deed must contain the grantor's name and address, the grantee's name and address (55 ILCS 5/3-5020, 5026), the consideration (usually money), a complete legal description of the property, the county where the property is located, the date the deed was executed, and the grantor's ...
Real estate attorney fees in Illinois typically range from $500 to $1500 for residential transactions, influenced by factors such as experience, location, and specialization. Lawyers may charge hourly rates or flat fees based on services provided.
Checklist: Preparing and Recording Your Quitclaim Deed Obtain the PIN for the property, as discussed below. Make sure you're exempt from the Illinois real estate transfer tax, discussed below. Complete and print out the deed form. Get your signature notarized. Make a photocopy for each party to the transaction.
Make sure to fill in your name and address, and the name and address of the other party involved in the transfer. Don't date or sign the deed, as you'll need to do that in a notary's presence.
Transfer tax is paid by purchasing Department of Revenue stamps from the county recorder at the time of recording. The transfer tax rate is $0.50 per $500 of value stated in the Transfer Tax Declaration at the state level, and counties may charge a county transfer tax at $0.25 per $500 of value.
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.
Illinois deeds must meet the following content requirements: Current owner (grantor) and new owner (grantee) name and address. An Illinois deed that transfers title to real estate must include on the face of the document the names and addresses of the current owner and the new owner. Granting clause.
5 Steps to Prepare and Record an Illinois Quitclaim Deed Prepare the Quitclaim Deed. There are multiple types of tenancies. ... Prepare the Grantor / Grantee Statement. ... Acquire Local Municipal Transfer Stamps. ... Prepare the County & State Transfer Declaration. ... Recording the Quitclaim Deed with the County.
