Chicago Illinois Quitclaim Deed by Two Individuals to Corporation

• Category: Illinois Real Estate - Deeds - Quitclaims
• State: Illinois
• City: Chicago
• Control #: IL-05-77
• Format: Word; Rich Text

Description

This Quitclaim Deed by Two Individuals to Corporation form is a Quitclaim Deed where the Grantors are two individuals and the Grantee is a corporation. Grantors convey quitclaim the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantors, if any, which are reserved by Grantors. A Chicago Illinois Quitclaim Deed by Two Individuals to a Corporation is a legal document used to transfer property ownership from two individuals to a corporation in the city of Chicago, Illinois. This type of deed is commonly used when the individuals want to transfer their ownership interest in a property to a corporation, typically for business or investment purposes. A Quitclaim Deed is a type of property transfer document that conveys the interest or rights the granter (the individuals) have in the property to the grantee (the corporation). Unlike a Warranty Deed, a Quitclaim Deed offers no guarantee or warranty of clear title; it simply transfers whatever interest the granter has in the property to the grantee. This means that if any title issues or liens exist on the property, the corporation will inherit them. There may be different variations or additional terms that can be used in a Chicago Illinois Quitclaim Deed by Two Individuals to a Corporation, such as: 1. Special Purpose Corporation Quitclaim Deed: This is used when the corporation is formed for a specific purpose, such as a real estate investment or development project. The deed may include language that limits the corporation's use of the property to that specific purpose. 2. Subject To Quitclaim Deed: This type of deed is used when the property being transferred has existing liens or encumbrances. The individuals would transfer their ownership interest in the property to the corporation, subject to the existing liens or encumbrances. 3. Partial Quitclaim Deed: In some cases, the individuals may only want to transfer a portion of their ownership interest in the property to the corporation. This can be done through a partial quitclaim deed, which specifies the percentage or portion being transferred. When preparing a Chicago Illinois Quitclaim Deed by Two Individuals to a Corporation, it is important to include relevant keywords such as "quitclaim deed," "property transfer," "granter," "grantee," "corporation," "Chicago," "Illinois," "title," "interest," and any specific variations mentioned above. Including the variant name in the document helps ensure clarity and accuracy in the transfer of property rights.

A Chicago Illinois Quitclaim Deed by Two Individuals to a Corporation is a legal document used to transfer property ownership from two individuals to a corporation in the city of Chicago, Illinois. This type of deed is commonly used when the individuals want to transfer their ownership interest in a property to a corporation, typically for business or investment purposes. A Quitclaim Deed is a type of property transfer document that conveys the interest or rights the granter (the individuals) have in the property to the grantee (the corporation). Unlike a Warranty Deed, a Quitclaim Deed offers no guarantee or warranty of clear title; it simply transfers whatever interest the granter has in the property to the grantee. This means that if any title issues or liens exist on the property, the corporation will inherit them. There may be different variations or additional terms that can be used in a Chicago Illinois Quitclaim Deed by Two Individuals to a Corporation, such as: 1. Special Purpose Corporation Quitclaim Deed: This is used when the corporation is formed for a specific purpose, such as a real estate investment or development project. The deed may include language that limits the corporation's use of the property to that specific purpose. 2. Subject To Quitclaim Deed: This type of deed is used when the property being transferred has existing liens or encumbrances. The individuals would transfer their ownership interest in the property to the corporation, subject to the existing liens or encumbrances. 3. Partial Quitclaim Deed: In some cases, the individuals may only want to transfer a portion of their ownership interest in the property to the corporation. This can be done through a partial quitclaim deed, which specifies the percentage or portion being transferred. When preparing a Chicago Illinois Quitclaim Deed by Two Individuals to a Corporation, it is important to include relevant keywords such as "quitclaim deed," "property transfer," "granter," "grantee," "corporation," "Chicago," "Illinois," "title," "interest," and any specific variations mentioned above. Including the variant name in the document helps ensure clarity and accuracy in the transfer of property rights.