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If you want to transfer real estate in Illinois to a relative or a friend, you might consider doing this yourself by using a quitclaim deed. A quitclaim deed in Illinois is often used to transfer property between close family members or trusted friends.
In Illinois, the real estate transfer process usually involves four steps: Locate the most recent deed to the property. Create the new deed. Sign and docHub the new deed. Record the deed in the Illinois land records.
One issue with using a quitclaim deed in a divorce case is that Illinois has homestead rights. In Illinois, homestead rights mean that spouses who use the property as their primary residence cannot be removed from the deed unless theres a court order or if the spouse waives their homestead rights.
Overview of Illinois Real Estate Transfer Tax State real estate transfer tax are imposed at a rate of $0.50 per $500 of value stated in the Transfer Tax Return. County real estate transfer tax are imposed at a rate of $0.25 per $500 of value stated in the Transfer Tax Return.
If the wifes name is not on the deed, it doesnt matter. Its still marital property because it was bought during the marriage. This makes it marital property and is still split between both parties. The wife is entitled to receive either equal share or equitable share of the house.
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People also ask

How Do Homeowners Add Spouses to Property Deeds? One of the most common ways property owners add spouses to real estate titles is by using quitclaim deeds. Once completed and filed, quitclaim deed forms effectually transfer a share of ownership from the owners, or grantors, to their spouses, or the grantees.
It usually takes four to six weeks to complete the legal processes involved in the transfer of title.
The first common requirement is that the deed must be in writing and signed by the grantor(s). 765 ILCS 5/1. Generally, deeds conveying a homestead estate must also be signed by the grantors spouse, except where one spouse conveys to the other. A few other exceptions to this rule are set forth at 735 ILCS 5/12-904.
All counties in Illinois now have flat / fixed pricing to record the deed. Amounts vary from $54 to $98 depending on the county.
LEGAL FEES - ILLINOIS QUIT CLAIM DEEDS The most basic service that most people chose is for me to prepare the Illinois quitclaim deed and grantor/grantee statement for $150. With this option, it will be your responsibility to get the local transfer stamp (if required) and get the deed recorded with the County Recorder.

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