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A deed states that the grantors are conveying all their rights and interests to the grantees to have and to hold this is communicated in

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The document is a Warranty Deed form prepared by U.S. Legal Forms, Inc. for use in the State of Illinois. It provides instructions on how to complete the form using Microsoft Word, including details on unlocking and filling out the fields. The document includes a disclaimer stating that the forms are provided without warranty and advises consulting an attorney for legal issues. Additionally, it outlines exemptions under the Illinois Property Tax Code related to real estate transfer taxes and contains sections for grantor and grantee information.

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What is an example of a grantor and grantee?

The two parties involved in a warranty deed are the seller, known as the grantor, and the buyer, or the grantee, and either party can be an individual or a business. Most lenders require a warranty deed for properties they finance.

Who will be in title on the warranty deed?

A warranty deed is a legal document used when a piece of real estate is sold and the ownership is transferred from the grantor (seller) to the grantee (buyer). The form usually includes a description of the property and discloses all known encumbrances like easements, outstanding liens or judgments.

Who are the grantor and grantee on a warranty deed?

The Definition Of Grantor And Grantee Mortgage agreements: The lender (grantor) provides funds, and the borrower (grantee) receives them. Trusts: The trust creator (grantor) transfers assets to a beneficiary (grantee). Property deeds: The seller (grantor) transfers ownership to the buyer (grantee).

Is a warranty deed proof of ownership?

No, a warranty deed does not prove ownership. A title search is the best way to prove that a grantor rightfully owns a property. The warranty deed is a legal document that offers the buyer protection. In other words, the property title and warranty deed work in tandem together.