Get the free QUITCLAIM DEED

This document serves as a legal instrument for the conveyance of property from one corporation to another under the laws of the state of Illinois, including pertinent details such as grantor and grantee

How to fill out quitclaim deed

How to fill out QUITCLAIM DEED

1. Title the document as 'Quitclaim Deed'.
2. Identify the grantor (the person giving up their interest in the property).
3. Include the address of the property being transferred.
4. Identify the grantee (the person receiving the interest in the property).
5. Include a legal description of the property.
6. State the intent to transfer any and all rights in the property.
7. Have the document signed by the grantor in the presence of a notary public.
8. Provide the notary with identification and verify the grantor's signature.
9. Record the Quitclaim Deed with the county recorder's office for public record.

Who needs QUITCLAIM DEED?

1. Individuals transferring property ownership without warranties.
2. Co-owners removing one person from joint ownership.
3. Individuals involved in divorce settlements.
4. Parents transferring property to children.
5. Trustees transferring property held in a trust.

This Quitclaim Deed from Corporation to Corporation form is a Quitclaim Deed where the Granter is a corporation and the Grantee is a corporation. Granter conveys and quitclaims the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Granter, if any, which are reserved by Granter. This deed complies with all state statutory laws.

People Also Ask about

What are the disadvantages of a quit claim deed?

Purchasing property claim via a quitclaim deed is risky because it does not guarantee that the seller has clear title or any ownership interest at all; meaning you could end up with no legal claim to the property if there are undisclosed issues.

What is a quitclaim deed in simple terms?

What does a quitclaim deed do? A quitclaim deed transfers the title of a property from one person to another, with little to no buyer protection. The grantor, the person giving away the property, gives their current deed to the grantee, the person receiving the property.

Who benefits the most from a quitclaim deed?

Many people mistakenly believe that a quitclaim deed offers the same protections as a warranty deed. In reality, the quitclaim deed provides no guarantees about the property's ownership history. If there are competing claims or disputes about who owns the property, a quitclaim deed will not resolve them.

What does quitclaim mean in English?

quitclaim in American English 1. the release or relinquishment of a claim, action, right, or title. 2. a deed or other legal paper in which a person relinquishes to another a claim or title to some property or right without guaranteeing or warranting such title.

What are the negatives of a quit claim deed?

Quitclaim deeds are typically used to transfer property in non-sale situations, such as transfers of property between family members.

For pdfFiller’s FAQs

What is QUITCLAIM DEED?

A quitclaim deed is a legal instrument used to transfer interest in real property. It allows the owner of the property, known as the grantor, to relinquish their rights to the property without making any warranties about the title.

Who is required to file QUITCLAIM DEED?

Typically, the grantor who is transferring their interest in the property is required to file the quitclaim deed. However, it is also important for the grantee, the person receiving the property, to ensure that the deed is recorded properly.

How to fill out QUITCLAIM DEED?

To fill out a quitclaim deed, you need to include the full names of the grantor and grantee, a description of the property, the date of the transfer, and the grantor's signature. Additionally, many jurisdictions require notarization and a witness.

What is the purpose of QUITCLAIM DEED?

The purpose of a quitclaim deed is to transfer ownership interest in property quickly and without warranties. It is commonly used in situations such as divorce settlements, transfers between family members, or correcting errors in property records.

What information must be reported on QUITCLAIM DEED?

The information that must be reported on a quitclaim deed includes the names of the grantor and grantee, the legal description of the property, the date of the transfer, and the grantor's signature. Some jurisdictions may require additional information, such as the property address and tax identification number.