There are two basic types of deeds: a warranty deed, which guarantees that the grantor owns title, and the quitclaim deed, which transfers only that interest in the real property which the grantor actually has. The only type of deed that creates "liability by reason of covenants of warranty" as to matters of record is a general warranty deed. A quit claim deed contains no warranties and the grantor does not have liability to the grantee for other recorded claims on the property. The grantee takes the property subject to existing taxes, assessments, liens, encumbrances, covenants, conditions, restrictions, rights of way and easements of record.
A Cook County Quitclaim Deed from Trustee and Former Trustee to New Trustees is a legal document used to transfer ownership of a property held in a trust from the current trustee(s) to newly appointed trustee(s). This type of deed ensures a smooth transition of trustee responsibilities while maintaining the trust's ownership of the property. The quitclaim deed acts as a release of any interest or claim the trustee and former trustee may have in the property, guaranteeing that the new trustees have clear and undisputed title. Keywords: Cook County, Quitclaim Deed, Trustee, Former Trustee, New Trustees, transfer ownership, trust, legal document, property, responsibilities, smooth transition, ownership, clear title, undisputed. Different types of Cook County Quitclaim Deeds from Trustee and Former Trustee to New Trustees may be named based on the specific conditions or situations surrounding the transfer. Some possible variations include: 1. Cook County Quitclaim Deed from Current Trustee to New Trustees: This deed type is commonly used when there is a change in the trustee(s) responsible for managing the trust's property, and the former trustee voluntarily assigns their interest to the newly appointed trustee(s). 2. Cook County Quitclaim Deed from Former Trustee to Remaining Trustee(s): This type of deed is used when a trustee steps down or resigns, transferring their interest in the trust property to the remaining trustee(s), ensuring that the trust's ownership remains intact. 3. Cook County Quitclaim Deed from Former Trustee to Successor Trustee(s): In situations where a trustee passes away or becomes incapacitated, this deed facilitates the transfer of their interest in the trust property to the successor trustee(s) named in the trust document. 4. Cook County Quitclaim Deed from Trustee to Trustee of Another Trust: This type of deed is employed when the trustee of one trust transfers the property to the trustee of another trust, often in cases of trust consolidation or reorganization. These variations of Cook County Quitclaim Deeds from Trustee and Former Trustee to New Trustees allow for the smooth transition of property ownership within a trust, ensuring legal compliance and clarity in transferring responsibilities.
