Quitclaim Deed Add Demanded Field For Free

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 ...

A quitclaim deed must also be correctly formatted, signed, and notarized, and it must contain (among other things) a tax address, the document preparer's name, and the appropriate transfer tax information. If the deed passes title to multiple new owners, it must identify the co-ownership form they will use.

The biggest difference between a title and deed is their form, or appearance. A title is a concept people use to discuss ownership of a home, but a deed is an actual physical document that proves ownership (or title).

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.

A warranty deed makes a promise to the buyer that the seller has good title to the property. A quitclaim deed, on the other hand, makes no promises. A quitclaim deed just says; whatever interest I have in this property, I give to you.

In order to file a deed in Cook County, the necessary documents are as follows: (1) Tax Declaration (MyDec); (2) Tax Stamps (or ?Zero Stamps? if an exempt transfer); (3) A Grantor/Grantee Affidavit (exempt transfers); (4) The Deed to be Filed (which must contain PIN number, complete legal description, commonly known ...

A bargain and sale deed indicates that only the seller of a property holds the title and has the right to transfer ownership. This type of deed offers no guarantees for the buyer against liens or other claims to the property, so the buyer could be responsible for these issues if they turn up.

A Quit Claim Deed is required to clearly identify the grantor and grantee, the address of the property being transferred, a legal description of the property, the manner in which the grantee is taking title, a notarized signature of the grantor, and the name and address of the party that has prepared the deed.

The good news is that, though it may not be an attractive option to many buyers, you can still sell the property normally. The title will still have been transferred to you. The quitclaim deed affects ownership and the name on the deed, but it does not affect the name on the mortgage.

Who prepares the quitclaim deed form? These deeds are basic documents that can be created on your own, or through your family law attorney, or through an escrow or title company.