It is used when the parties trust each other, as this deed-type offers little assurances when compared to warranty and special warranty deeds. Quitclaim deeds are also sometimes called quit claim deeds or quick claim deeds because they are a fast way to accomplish real estate transfers. the Most Secure Digital Platform to Get Legally Binding, Electronically Signed Documents in Just a Few Seconds.
If the deed is not written, notarized, and entered into the public record. Fill Out, Securely Sign, Print or Email Your Quit Claim Deed - Statutory - McHenry County - Co Mchenry Il Instantly with SignNow. When writing the transfer deed, you’ll have to verify with the County Registry to ensure the grantor is, in fact, the owner of the property.
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The grantor, who is selling the Illinois property deed, guarantees that they own the property and that it’s free and clear for sale to the buyer, known as the grantee. A quitclaim (quit claim) deed is a legal document used for transferring ownership of real property. The purpose of a deed form is to transfer a title, a legal document proving ownership of a property or asset, to another person. The most common types of deed forms include:Ī general warranty deed is a common Illinois deed form. The Illinois Department of Revenue provides a way to complete and submit this tax form online. Transfers of property require payment of what’s known in Illinois as a Transfer Tax using form PTAX-203.
The fee to record documents with this office varies by county. Deeds must be recorded in the county where the property changing hands is located.Įach county has a Recorder’s Office to record deeds and other documents. The law that governs the transfer of property and use of deed forms is the Illinois Conveyances Act (765 ILCS 5/).