What is an Illinois Quitclaim Deed?
In Illinois, property owners use quitclaim deeds to transfer ownership of a property from one person to the next without any type of promise about the title. This can be used to transfer property from one person in a family to another or to remove or add a spouse, because these situations do not create potential title issues.
An Illinois quitclaim deed is different than a warranty deed. A warranty deed makes a guarantee that the title is clear, and this is the right type of deed when moving property between strangers. Sometimes IL quitclaim deeds are called quit claim deeds, quick claim deeds, or quit claims deeds, but these are wrong terms used for the same thing.
Important Laws & Requirements
- Laws: Conveyances Act – § 765 ILCS 5
- Transfer Tax: Along with the Illinois quitclaim deed, you will need to file Form PTAX-203, either on paper or online, to calculate and pay your transfer tax.
- Recording: The deed must be filed with the County Recorder’s Office in the county where the property resides. Find the appropriate County Recorder’s Office before attempting to file the deed.
- Signing: According to § 765 ILCS 5/20, the deed must be signed in the presence of a notary public.
How to Write & File a Quitclaim Deed in Illinois
Step 1: Download the IL quitclaim deed form. IN the upper left-hand corner, add the preparer’s name and mailing address.
Step 2: Add the return address. This is the address that the County Recorder’s Office will mail the deed to after it is recorded. This is typically the buyer, but it does not have to be. This goes under the preparer’s information.
Step 3: Under the title, “Illinois Quitclaim Deed,” list the county where the deed is being prepared and the property is located.
Step 4: List the amount the seller, also known as the grantor, is selling the property for. The number needs to be written in words, followed by the numerical value in parentheses.
Step 5: Fill in the grantor’s information. This will be the grantor’s name, occupation or status, and address with county, city, and state.
Step 6: Fill in the grantee’s (seller’s) information. This includes name, professional status, address, and county.
Step 7: Add the legal description and location of the property. This will include the plat, address, and a description of the building and property.
Step 8: Have the grantor sign the document and print their name below. The grantor also must add their address. This must be done in the presence of a notary public, and it must be notarized.
Step 9: Submit the document to the County Recorder’s Office to officially record the deed.