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Transferring real land or property from one person to another necessitates the use of Illinois deed forms. Grantors and grantees are terms used to describe the parties involved in a transfer of ownership of property. When a buyer has done enough research on a property to identify the amount of interest (ownership) being acquired, transfers are frequently carried out. Additionally, the grantee must file the original document with the county recorder after it has been signed.
Laws-765 ILCS 5 (Conveyances Act)
Documentation/Recording-A copy of the recorded document must be kept with the County Recorder's Office in the county where the property is situated. To find your local Recorder's
Office, choose your county from the list below.
Transfer Tax (Form PTAX-203): The PDF Form can be submitted electronically or physically (Applicable Counties have the option to process the form online).
Getting your Deed Signed-All deeds must be signed and acknowledged before a notary public in accordance with ILCS 765/5/20.
General Warranty: An assurance from the seller to the buyer that he or she is selling the property free of all third-party claims, that he or she has the legal authority to sell it, and that he or she would defend the buyer against any claims made against the property are all included in this sort of deed.
QuitClaim: In contrast to a warranty deed, a quitclaim offers no assurances or guarantees that the seller will be able to sell the property or that the seller will remain the owner of the property after the sale.
Special or Unique Warranty: this type of warranty deed is used to transfer property that has a limited warranty attached to it. The buyer guarantees that no interest in the property has been transferred during his or her possession, but he or she does not guarantee title prior to the acquisition.
It's critical to conduct a land search before making a purchase. That way, you may be certain that no interests have been transferred in the past that might cause an issue for you later. Many title companies advise you to look into the property's transfers during the last 50 years. The county recorder's office in Illinois is where property records can be found. By visiting the county recorder's website, you can discover if they offer online searching and then conduct a search there. Think about how far back you can go with your study before relying solely on online sources. A title search can be done with the help of Cook County's title search information.
Stage 1: Start by going to this website and choosing the county where the property is situated.
Stage 2: We'll use the county of "Book" for the experiment. This screen will appear after you've selected a County Recorder: click on it to proceed.
Stage 3: You'll be redirected to a page with the name and address of the recorder, as well as the URL of the recorder's website. To get started, simply go to the website's address bar and click on the URL.
Stage 4: Go to the recorders' website and look for the document searching link.
Stage 5: To get to this screen, select "Search Public Records."
The next thing to do is to make sure you have the grantor's name and/or the property identification number, which may be located on the tax statement, at your disposal. Enter that data if requested.