Quitclaim Deed Illinois

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Commonly Asked Questions about Quitclaim Deed Illinois

Are quit claim deeds legal in Illinois?

In order to transfer an ownership interest in a piece of real property, the grantor will need to execute a deed. There are several types of deeds that can be used in Illinois. The most frequent deed that is used is a Quit Claim Deed.

How much does a quitclaim deed cost in Illinois?

Summary. The actual cost to record your quitclaim deed in Illinois runs between $70 to $107, depending on the county. You may have other costs as well, such as transfer taxes, fees related to municipal requirements, and the cost of hiring a lawyer to assist you with drafting and recording your deed.

How does a quit claim deed work in Illinois?

An Illinois Quitclaim Deed conveys whatever ownership the Grantor has in the property to the Grantee without any warranties.

What are the disadvantages of a quit claim deed?

What are the Disadvantages of a Quit Claim Deed? No Protections For The Transaction: Unlike warranty deeds, a quitclaim deeds does not offer protections for the new property owner. There is no way to guarantee that the property is owned free and clear, and that there are no easements or restrictions.

In which of the following situations could a quitclaim deed not be used?

In which of the following situations could a quitclaim deed NOT be used? c. The answer is to warrant that a title is valid. The quitclaim deed carries no covenants or warranties.

How much does it cost to file a quit claim deed in Illinois?

For basic service, a quitclaim deed attorney will prepare the new quitclaim deed (and Grantor/Grantee Statement if necessary). The fee is $150 (or $160 if paid by credit card). It will be your responsibility to get the transfer stamps (if necessary) and get the deed recorded with the County Recorder.