Chicago Illinois Warranty Deed from Corporation to Individual

• Category: Illinois Real Estate - Deeds - Warranty
• State: Illinois
• City: Chicago
• Control #: IL-011-78
• Format: Word; Rich Text

Description

This Warranty Deed from Corporation to Individual form is a Warranty Deed where the Grantor is a corporation and the Grantee is an individual. Grantor conveys and warrants the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This deed complies with all state statutory laws. A Chicago Illinois Warranty Deed from Corporation to Individual is a legally binding document that transfers ownership of real property from a corporation to an individual within the city of Chicago, Illinois. This specific type of deed, known as a warranty deed, provides guarantees or warranties to the individual buyer regarding the title of the property. It assures the buyer that the corporation has the legal right to sell the property and that there are no undisclosed encumbrances or claims against the title. There are various types of Chicago Illinois Warranty Deeds from Corporation to Individual, and each may have minor differences based on specific circumstances. However, here are some commonly used types: 1. General Warranty Deed: This type of warranty deed provides the broadest protection to the buyer as it guarantees against any claims arising from both previous and current ownership periods. It guarantees the corporation will defend the title against any future adverse claims. 2. Special Warranty Deed: This type of warranty deed only guarantees against claims arising from the corporation's ownership period. It does not provide coverage for any claims or encumbrances that may have existed prior to the corporation's ownership. 3. Limited Warranty Deed: This type of warranty deed limits the corporation's liability and warranties to specific defects, encumbrances, or claims that were made or occurred during the corporation's ownership period. It may not provide as much protection as a general warranty deed. 4. Quitclaim Deed: While not a warranty deed, a quitclaim deed is sometimes used in these transactions. It transfers the corporation's interest in the property to the individual buyer without providing any warranties or guarantees regarding the title. It simply relinquishes any claim the corporation may have on the property. When drafting or reviewing a Chicago Illinois Warranty Deed from Corporation to Individual, it is important to understand the specific terms and language used. Keywords that may be relevant to include "granter" (the corporation selling the property), "grantee" (the individual purchasing the property), "consideration" (the amount paid for the property), "legal description" (a detailed description of the property), "covenants" (the promises made by the corporation regarding the title), and "warranty" (the assurance of the corporation's ownership and the absence of encumbrances). It is advisable to consult with a real estate attorney to ensure the deed complies with all necessary legal requirements and provides adequate protection for the buyer.

A Chicago Illinois Warranty Deed from Corporation to Individual is a legally binding document that transfers ownership of real property from a corporation to an individual within the city of Chicago, Illinois. This specific type of deed, known as a warranty deed, provides guarantees or warranties to the individual buyer regarding the title of the property. It assures the buyer that the corporation has the legal right to sell the property and that there are no undisclosed encumbrances or claims against the title. There are various types of Chicago Illinois Warranty Deeds from Corporation to Individual, and each may have minor differences based on specific circumstances. However, here are some commonly used types: 1. General Warranty Deed: This type of warranty deed provides the broadest protection to the buyer as it guarantees against any claims arising from both previous and current ownership periods. It guarantees the corporation will defend the title against any future adverse claims. 2. Special Warranty Deed: This type of warranty deed only guarantees against claims arising from the corporation's ownership period. It does not provide coverage for any claims or encumbrances that may have existed prior to the corporation's ownership. 3. Limited Warranty Deed: This type of warranty deed limits the corporation's liability and warranties to specific defects, encumbrances, or claims that were made or occurred during the corporation's ownership period. It may not provide as much protection as a general warranty deed. 4. Quitclaim Deed: While not a warranty deed, a quitclaim deed is sometimes used in these transactions. It transfers the corporation's interest in the property to the individual buyer without providing any warranties or guarantees regarding the title. It simply relinquishes any claim the corporation may have on the property. When drafting or reviewing a Chicago Illinois Warranty Deed from Corporation to Individual, it is important to understand the specific terms and language used. Keywords that may be relevant to include "granter" (the corporation selling the property), "grantee" (the individual purchasing the property), "consideration" (the amount paid for the property), "legal description" (a detailed description of the property), "covenants" (the promises made by the corporation regarding the title), and "warranty" (the assurance of the corporation's ownership and the absence of encumbrances). It is advisable to consult with a real estate attorney to ensure the deed complies with all necessary legal requirements and provides adequate protection for the buyer.