Quit Claim Deeds in Illinois

If you’re navigating real estate transactions in Illinois, you may have come across the term “quit claim deed”  and wondered what it is and how it works. For example, quit claim deeds are very common in a divorce. In this blog, we’ll break down the basics of quit claim deeds, how to execute one, and where they need to be recorded once completed. If you are like me, real estate deeds are not the most interesting topic, so grab some coffee and we will try to explain what you should know.

Deed Basics

Before understanding a quit claim deed, it is important to understand the basics of a deed in Illinois. A deed is a legal document that transfers ownership of real property from one party (known as the grantor) to another (known as the grantee). It serves as the formal record of the property transfer and includes key details, such as the names of the grantor(s) and grantee(s), a description of the property, and any terms or conditions tied to the transfer. Deeds come in different forms, including warranty deeds and quit claim deeds, each offering varying levels of assurance about the property’s title. 

Once a deed is signed and delivered, it must be recorded with the appropriate government authority, typically the county Recorder of Deeds, to officially document the transfer and protect the new owner’s interest in the property.

Rights vs. Responsibilities. Deeds give rights to the property owner. They should not be confused with a mortgage, which is the responsibility of the borrower to pay the lender. Many times the people on the deed are also responsible for payment of the mortgage. However, there are reasons why someone may choose to be on the mortgage or the deed, but not both. 

What Is a Quit Claim Deed?

A quit claim deed is a legal document used to transfer ownership interest in real property from one person to another without making any guarantees about the title. A quit claim deed has very little protection to the recipient. For example, when making a home purchase, usually the buyer receives something like a “warranty deed” that provides protections to the buyer. 

Unlike a warranty deed, which assures that the title is free of claims or liens, a quit claim deed simply transfers whatever interest the grantor may have to the grantee. This could mean that the grantor is the rightful owner of the property or it may mean that they have no interest in the property. However, the grantee is now receiving 100% of whatever interest that the grantor had in the property. 

How Do You Execute a Quit Claim Deed in Illinois?

Executing a Quit Claim Deed in Illinois involves several key steps:

1. Obtaining the Form: Obtain a Quit Claim Deed form from the county in which the property is located. You can also find these online (beware of scams), or you can hire an attorney to prepare it for you. Many County Recorder’s offices have official websites where the Quit Claim Deed forms can be downloaded, along with the Recorder’s fee schedule for the filing.  
2. Complete the Form: The Quit Claim Deed form will require basic information, including the names of the grantor and grantee, a legal description of the property, and the amount of consideration (if any) being exchanged. It’s crucial to use the correct legal description of the property, which can typically be found in the original deed or through the county’s records.
3. Consideration: The “consideration” is a legal term for the value exchanged for real property. When a Quit Claim Deed is required by a marital settlement agreement (“MSA”), for example, often the parties will use a nominal amount of consideration, such as “$10.00” for the transfer, because the Quit Claim Deed form is not necessarily conducive to including all the relevant details and/or provisions from the MSA, nor is including such common practice.
4. Sign & Deliver the Deed: The grantor must sign the deed in front of a notary public. Once the deed is signed and notarized, the grantor delivers it to the grantee. This delivery completes the transfer of property interest.
5. Record The Deed. Although not “required” to effectuate the transfer, it usually makes sense to record the deed with the Recorder of Deeds office in the county where the property is located to keep your title as clean as possible. You will typically need to pay a filing fee, which varies depending on the county. In some cases, transfer taxes may also apply, so it’s important to check with the local recorder’s office for specific requirements.

Quit Claim and Divorce

While a quit claim deed can be a simple way to transfer property ownership, it’s important to understand its limitations—particularly the lack of any guarantee regarding the property’s title. If you’re unsure whether a quit claim deed is the right choice for your situation, you should speak with a lawyer.

Often one spouse is awarded the property in a divorce and the other spouse is ordered to sign a quit claim deed. It is important to make sure all parties know exactly who is responsible for what before you agree to give up your rights to the property. For example, people mistakenly believe that a divorce Judgment can eliminate one spouse’s responsibility to pay the mortgage, taxes, or other items associated with the property. However, the bank was not a part of the divorce process and their interest (i.e. the mortgage) is not changed by the terms of the divorce.

Work with Reidy Law Office 

Working with Reidy Law Office offers clients professional and compassionate support in family law matters, including divorce, child custody, spousal support, and asset division. The firm’s expertise covers Illinois-specific family law issues, focusing on providing customized legal solutions for each client’s unique needs.

From guiding clients through the complexities of divorce to representing their interests in court, Reidy Law Office prioritizes a clear, client-centered approach. They can assist with both contested and uncontested divorces, help clients navigate property division, and work through challenging matters like parental responsibilities and visitation rights. The team is also skilled in alternative dispute resolution methods, including mediation, to help clients reach amicable agreements without the stress of a court trial.

For more information or to schedule a consultation with Reidy Law Office, you can visit their website directly at reidylawoffice.com