Chicago Illinois Warranty Deed from Husband and Wife to an Individual

• Category: Illinois Real Estate - Deeds - Warranty
• State: Illinois
• City: Chicago
• Control #: IL-018-78
• Format: Word; Rich Text

Description

This form is a Warranty Deed where the grantors are husband and wife and the grantee is an individual. Grantors convey and warrant 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 Husband and Wife to an Individual is a legal document that transfers ownership of real property from a married couple (the granters) to an individual (the grantee) in Chicago, Illinois. This type of deed provides assurance to the grantee that the property being transferred is free from any encumbrances or claims, except those already mentioned in the deed. The warranty deed includes specific keywords and elements that are essential for its validity and enforceability: 1. Granters: The granters are the husband and wife transferring the ownership of the property. Their full legal names should be clearly stated in the deed, along with their marital status. 2. Grantee: The individual receiving the property's ownership is referred to as the grantee. The grantee's full legal name is required, and it's also important to ensure accuracy and clarity. 3. Consideration: The consideration is the value exchanged between the granters and the grantee, such as money or other valuable assets. This amount is usually stated in the deed, even if it is merely nominal. 4. Legal Description: The deed must include an accurate legal description of the property being transferred. This description can be obtained from the property's previous deed or the county recorder's office. The legal description should be detailed enough to identify the property uniquely, including its boundaries, lot numbers, and any other relevant details. 5. Addendum Clause: The addendum clause is a crucial provision that defines the type of ownership interest being transferred. In the case of a warranty deed, it typically includes the phrase "to have and to hold the said premises forever." This clause establishes that the grantee is receiving fee simple ownership, which is the highest form of ownership interest. Different variations of Chicago Illinois Warranty Deed from Husband and Wife to an Individual may include Trusts, Life Estates, Joint Tenants with Rights of Survivorship (TWOS), Tenants in Common (TIC), or Spouses Conveying to Third Parties. Each variation caters to specific circumstances or estate planning goals, so it is important to choose the appropriate type based on individual needs. It is crucial to consult with a qualified attorney or legal professional when drafting or reviewing any Chicago Illinois Warranty Deed to ensure that all relevant local laws and requirements are met.

A Chicago Illinois Warranty Deed from Husband and Wife to an Individual is a legal document that transfers ownership of real property from a married couple (the granters) to an individual (the grantee) in Chicago, Illinois. This type of deed provides assurance to the grantee that the property being transferred is free from any encumbrances or claims, except those already mentioned in the deed. The warranty deed includes specific keywords and elements that are essential for its validity and enforceability: 1. Granters: The granters are the husband and wife transferring the ownership of the property. Their full legal names should be clearly stated in the deed, along with their marital status. 2. Grantee: The individual receiving the property's ownership is referred to as the grantee. The grantee's full legal name is required, and it's also important to ensure accuracy and clarity. 3. Consideration: The consideration is the value exchanged between the granters and the grantee, such as money or other valuable assets. This amount is usually stated in the deed, even if it is merely nominal. 4. Legal Description: The deed must include an accurate legal description of the property being transferred. This description can be obtained from the property's previous deed or the county recorder's office. The legal description should be detailed enough to identify the property uniquely, including its boundaries, lot numbers, and any other relevant details. 5. Addendum Clause: The addendum clause is a crucial provision that defines the type of ownership interest being transferred. In the case of a warranty deed, it typically includes the phrase "to have and to hold the said premises forever." This clause establishes that the grantee is receiving fee simple ownership, which is the highest form of ownership interest. Different variations of Chicago Illinois Warranty Deed from Husband and Wife to an Individual may include Trusts, Life Estates, Joint Tenants with Rights of Survivorship (TWOS), Tenants in Common (TIC), or Spouses Conveying to Third Parties. Each variation caters to specific circumstances or estate planning goals, so it is important to choose the appropriate type based on individual needs. It is crucial to consult with a qualified attorney or legal professional when drafting or reviewing any Chicago Illinois Warranty Deed to ensure that all relevant local laws and requirements are met.