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  • Illinois Quit Claim Deed

Get Illinois Quit Claim Deed

Recorder's Office - Phyllis K. Walters, McHenry County Recorder ... Act Affidavit PDF ; Quit Claim Deed - Statutory PDF ; Quit Claim Deed - Joint Tenancy PDF .

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Usually, a Quitclaim Deed is sent to the Grantee after it has been recorded. ... After a deed is signed and notarized, it should be filed at the land records office in the county where the property is located.

Quitclaim deeds, therefore, are commonly used to transfer property within a family, such as from a parent to an adult child, between siblings, or when a property owner gets married and wants to add his or her spouse to the title. Married couples who own a home together and later divorce also use quitclaim deeds.

Disadvantages of Quitclaim Deeds for Seniors They do not give the new owner a legal claim against the transferor for breaching the warranty of title. In fact, they do not even warrant title, so seniors have no legal recourse against transferors who quitclaim a property without legal rights.

Quit claim deeds are sometimes used to transfer properties to different entities for asset protection purposes. ... If you want true asset protection, the trick is to transfer the property correctly, so as not to flag the mortgage company.

Signing a quitclaim deed and giving up all rights to the property doesn't release you from any financial obligations you may have. It only removes you from the title, not from the mortgage, and you are still responsible for making payments.

A quitclaim deed in Illinois is often used to transfer property between close family members or trusted friends. ... A quitclaim deed requires trust on the part of the person receiving the deed, because the person transferring it, also known as the grantor, isn't guaranteeing they actually own the property.

You and the lender both sign the Quit Claim. The Quit Claim states that you agree to transfer the ownership of your property to the lender and the lender agrees to release you from any debt owed.

Using a quitclaim bill of sale can have benefits for both seller and buyer. A seller is able to sell the property without having to ensure the title is clear. They sell it without guarantees, so if, for example, there is a lien against the property, that lien passes with the property to the buyer.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232