Illinois Sample Letter for Warranty Deed - Recordation in Courthouse
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How to fill out Sample Letter For Warranty Deed - Recordation In Courthouse?
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FAQ
Recording of Deeds A deed must contain the names of the parties typed or printed to the side or below the signatures. This includes grantors as well as any witnesses and persons taking the acknowledgements. 765 ILCS 5/35c, 765 ILCS 5/9, 5/10.
A general warranty deed must include the following to be valid: The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.
While the seller in a Warranty Deed must defend the title against all other claims and compensate the buyer for any unsettled debts or damages, the seller in a Special Warranty Deed is only responsible for debts and problems accrued or caused during his ownership of the property.
Special warranty deeds do not protect against mistakes in a free-and-clear title that may exist before the seller's ownership. Thus, the grantor of a special warranty deed is only liable for debts, problems, or other encumbrances to the title that they caused during their property ownership.
A warranty deed or quit claim deed TRANSFERS TITLE or OWNERSHIP of real property. When you purchase property, you usually receive a warranty deed from the seller to you to show that you now own the property.
General Warranty Deed It offers the highest level of protection to the buyer because it guarantees that there are absolutely no problems with the home ? even dating back to prior property owners. This quality of coverage is why most lenders will require you to get a general warranty deed when buying your house.
For a property deed transfer by quitclaim in Illinois, you must use the form that's used in the county where the property is located. If the property is located in a county other than the one in which you live, call the County Recorder of Deeds in the other county to determine the proper quitclaim deed form to use.
Warranty deed is the level of protection offered. A warranty deed offers a higher level of protection than a grant deed. With a grant deed, the grantor is guaranteeing that they haven't sold the property to anyone else, and that it is clear of any liens or restrictions.
