The Illinois quitclaim deed is used to convey real estate in Illinois from one party to another. All deeds require either a signed and dated exemption statement or a completed PTAX-203 form.Use our Illinois quitclaim deed to release ownership rights over real property. Download a free template here. An Illinois quit claim deed is a quick way to transfer property from a grantor to a grantee without assurances regarding title quality. Simplify property handoffs with our quitclaim bill of sale template. Easily record the ownership transfer of merchandise or equipment.