What Is A Warranty Deed In Illinois

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• County: Cook
• Control #: US-OG-532
• Format: Word; Rich Text

Description

This is a form of a Warranty Deed that includes both Surface and Mineral Interests. A Cook Illinois Warranty Deed for Surface and Mineral Interests is a legal document used to transfer ownership of both the surface and mineral rights of a property in Cook County, Illinois. This type of deed provides a guarantee to the buyer (grantee) that the seller (granter) holds clear title to both the surface land and any mineral rights associated with the property. This warranty deed includes specific covenants, or guarantees, made by the granter. These covenants typically include: 1. Covenant of Basin: The granter guarantees that they own the property and have the legal right to transfer the surface and mineral interests to the grantee. 2. Covenant of Right to Convey: The granter ensures that they have the authority to sell the surface and mineral interests without any limitations or encumbrances. 3. Covenant Against Encumbrances: The granter promises that there are no liens, mortgages, or other encumbrances on the property, except those specifically mentioned in the deed. 4. Covenant of Quiet Enjoyment: The granter guarantees that the grantee will not be disturbed in their possession or use of the property by any third-party claims or actions. 5. Covenant of Warranty: The granter guarantees to defend the title against any claims made against it and compensate the grantee for any losses incurred due to a defect in the title. In Cook County, Illinois, there may be different types of Warranty Deeds for Surface and Mineral Interests based on specific variations or conditions. These variations can include: 1. General Warranty Deed: This type of deed provides the broadest form of protection to the grantee, as the granter guarantees the title not only against defects arising during their ownership but also against defects that may predate their ownership. 2. Special Warranty Deed: This deed provides a warranty limited to defects that may have occurred during the granter's ownership. It does not cover any defects that may exist before their ownership. 3. Quitclaim Deed: This type of deed transfers whatever interest the granter has in the property, without making any warranties or guarantees regarding the title. It is commonly used in transactions where the granter may not have clear knowledge or assurance of the ownership status or any potential encumbrances. These different types of Warranty Deeds allow parties involved in Cook County real estate transactions to choose the level of protection and guarantee that best suits their needs and concerns. It is essential to consult with a qualified attorney or real estate professional when considering such deeds to ensure proper understanding and execution of the legal requirements.

A Cook Illinois Warranty Deed for Surface and Mineral Interests is a legal document used to transfer ownership of both the surface and mineral rights of a property in Cook County, Illinois. This type of deed provides a guarantee to the buyer (grantee) that the seller (granter) holds clear title to both the surface land and any mineral rights associated with the property. This warranty deed includes specific covenants, or guarantees, made by the granter. These covenants typically include: 1. Covenant of Basin: The granter guarantees that they own the property and have the legal right to transfer the surface and mineral interests to the grantee. 2. Covenant of Right to Convey: The granter ensures that they have the authority to sell the surface and mineral interests without any limitations or encumbrances. 3. Covenant Against Encumbrances: The granter promises that there are no liens, mortgages, or other encumbrances on the property, except those specifically mentioned in the deed. 4. Covenant of Quiet Enjoyment: The granter guarantees that the grantee will not be disturbed in their possession or use of the property by any third-party claims or actions. 5. Covenant of Warranty: The granter guarantees to defend the title against any claims made against it and compensate the grantee for any losses incurred due to a defect in the title. In Cook County, Illinois, there may be different types of Warranty Deeds for Surface and Mineral Interests based on specific variations or conditions. These variations can include: 1. General Warranty Deed: This type of deed provides the broadest form of protection to the grantee, as the granter guarantees the title not only against defects arising during their ownership but also against defects that may predate their ownership. 2. Special Warranty Deed: This deed provides a warranty limited to defects that may have occurred during the granter's ownership. It does not cover any defects that may exist before their ownership. 3. Quitclaim Deed: This type of deed transfers whatever interest the granter has in the property, without making any warranties or guarantees regarding the title. It is commonly used in transactions where the granter may not have clear knowledge or assurance of the ownership status or any potential encumbrances. These different types of Warranty Deeds allow parties involved in Cook County real estate transactions to choose the level of protection and guarantee that best suits their needs and concerns. It is essential to consult with a qualified attorney or real estate professional when considering such deeds to ensure proper understanding and execution of the legal requirements.