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Commonly Asked Questions about Illinois Property Deed Forms

General warranty deeds give the grantee the most legal protection, while special warranty deeds give the grantee more limited protection. A quitclaim deed gives the grantee the least protection under the law. Understanding Property Deeds - Investopedia Investopedia Real Estate Investing Investopedia Real Estate Investing
An Illinois deed is not valid unless it is signed as required by law. Illinois deeds must meet the following signature requirements: Grantors signature. The current owner making the transfer must sign an Illinois deed while of legal age, of sound mind, and not under duress.
You must file either (1) Form PTAX-203 and any required documents with the deed or trust document or (2) an exemption notation on the original deed or trust document at the County Recorders office within the county where the property is located.
In Illinois, the property records are located at the county recorder. You can go there in person to conduct a search or you can check the county recorders website to see if they offer online searching.
General Warranty Deeds: A General Warranty Deed, also known as a full warranty deed, offers the highest level of buyer protection. It guarantees that the property is free from any liens or encumbrances, regardless of when they originated. Understanding Warranty Deeds in Real Estate Transactions The Piatchek Law Firm what-is-a-warranty-deed-on- The Piatchek Law Firm what-is-a-warranty-deed-on-
When committing to a general warranty deed, the seller is promising there are no liens against the property, and if there were, the seller would compensate the buyer for those claims. Mainly for this reason, general warranty deeds are the most commonly used type of deed in real estate sales.