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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.

How to Create an Illinois Warranty Deed Form The names and address of the current owner and new owner; An accurate legal description of the real estate; A statement of consideration; and. Addresses for return of the recorded deed and for future tax statements (often the same address).

The deed's language will communicate that the seller is the rightful property owner and that they indeed have the right to sell the real estate. It will also relay that no third parties have a claim to the title and that the property will be transferred unencumbered to the new owner.

In Illinois, a warranty deed transfers title to the grantee with broad warranties and covenants of title and is the form of deed customarily used in residential real estate transactions.

Illinois deeds submitted for recording must be accompanied by a signed Transfer Tax Declaration Form (PTAX-203) unless the deed is exempt from transfer tax. The declaration uses a form published by the Department of Revenue and includes information about the transaction and a calculation of the transfer tax due.

A deed that uses the statutory language provides a limited warranty to the new owner, with the transferor's covenants of title listed earlier in this article. Illinois law assumes that a deed that says the transferor ?grants, bargains, and sells? the property to the new owner is a special warranty deed.