Fill and Sign the Illinois Quitclaim Deed from Two Individuals to One Individual Form

© 2016 - U.S. Legal Forms, Inc. ILLINOIS QUITCLAIM DEED [Two Individuals to One Individual] Control Number: IL-025- 77 I. TIPS ON COMPLETING THE FORMS The form(s) in this packet may contain “form fields” created us ing Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate complet ion of the forms using your computer. They do not limit your ability to print the f orm “in blank” and complete with a typewriter or by hand. It is also helpful to be able to see the location of th e form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded lett er “a”. Click this button and the form fields will be visible. By clicking on the appropriate form field, you will be abl e to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner. II. ILLINOIS PROPERTY TAX CODE – TRANSFER TAX EXEMPTION 1. Real Estate Transfer Declaration can be completed and printed onli ne at: https://www.revenue.state.il.us/RETD/ 2. See the following for a listing of the exemptions to t he Illinois Transfer Tax on real estate transactions: (35 ILCS 200/31- 45) Sec. 31-45. Exemptions. The following deeds or trust documen ts shall be exempt from the provisions of this Article except as provided in this Secti on: (a) Deeds representing real estate transfers made before Januar y 1, 1968, but recorded after that date and trust documents executed before January 1, 1986, but recorded after that date. (b) Deeds to or trust documents relating to (1) property acquired by any governmental body or from any governmental body, (2) pro perty or interests transferred between governmental bodies, or (3) property acquired by or from any corporation, society, association, fo undation or institution organized and operated exclusively for charitabl e, religious or educational purposes. However, deeds or trust documents, ot her than those in which the Administrator of Veterans' Affairs of t he United States is the grantee pursuant to a foreclosure proceeding, shall not be exempt from filing the declaration. (c) Deeds or trust documents that secure debt or other obligation . (d) Deeds or trust documents that, without a dditional consideration, confirm, correct, modify, or supplement a deed or trust docum ent previously recorded. (e) Deeds or trust documents where the actual consideration is l ess than $100. (f) Tax deeds. (g) Deeds or trust documents that release property that is secur ity for a debt or other obligation. (h) Deeds of partition. (i) Deeds or trust documents made pursuant to me rgers, consolidations or transfers or sales of substantially all of t he assets of corporations under plans of reorganization under the Federa l Internal Revenue Code or Title 11 of the Federal Bankruptcy Act. (j) Deeds or trust documents made by a subsidiary corporation to its parent corporation for no consideration other than the cance llation or surrender of the subsidiary's stock. (k) Deeds when there is an actual exchange of real estate and trust documents when there is an actual exchange of benefi cial interests, except that that money difference or money's worth paid from one to the other is not exempt from the tax. These deeds or t rust documents, however, shall not be exempt from filing the declaration . (l) Deeds issued to a holder of a mortgage, as defined i n Section 15-103 of the Code of Civil Procedure, pursuant to a mor tgage foreclosure proceeding or pursuant to a transfer in lieu of foreclosure. (m) A deed or trust document related to the purchase of a principal residence by a participant in the program authorized by the Home Ownership Made Easy Act, except that those deeds and trust documen ts shall not be exempt from filing the declaration. III. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. ba sed upon statutes and forms for the State of Illinois. All information and Forms are subject to this Disclaimer: All forms in this package are provided without any war ranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem, we suggest that you con sult an attorney in your state. U.S. Legal Forms, Inc. does not provide legal ad vice. 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Quitclaim Deed Page 1 of 3 QUITCLAIM DEED [Two Individuals to One Individual] Space Above for Recorder’s Use Mail to: Name & Address of Taxpayer(s): THE GRANTORS : , of the City/Village of , County of , State of ; and , of the City/Village of , County of , State of , Individuals, for and in consideration of Dollars, CONVEY AND QUITCLAIM TO THE GRANTEE: , Of the City/Village of , County of , State of , all interest in the following real property situated in the County of , in the State of Illinois, to-wit: See Legal Description Attached as Exhibit A incorporated by reference as though set forth in full Legal Description: Permanent Index Number(s): Property Address: Quitclaim Deed Page 2 of 3 Date: Signature of First Grantor Type or Print Name Signature of Second Grantor Type or Print Name State of Illinois, County of __________________ I, the undersigned, a Notary Public in and of said County, in the State aforesaid, DO HEREB Y CERTIFY THAT is personally known to me to be the same persons whose names are subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that they signed, sealed and delivered said instrument as their free and voluntary act, for the purposes therein set forth. Given under my hand and notarial seal, this ______ day of __________________, 20______. Notary Public My commission expires: __________________ State of Illinois, County of __________________ I, the undersigned, a Notary Public in and of said County, in the State aforesaid, DO HEREB Y CERTIFY THAT is personally known to me to be the same persons whose names are subscribed to the foregoi ng instrument, appeared before me this day in person, and acknowledged that they signed, sealed and delivered said instrument as their free and voluntary act, for the purposes therein set forth. Given under my hand and notarial seal, this ______ day of __________________, 20______. Notary Public My commission expires: __________________ Quitclaim Deed Page 3 of 3 MUNICIPAL TRANSFER STAMP COUNTY/ILLINOIS TRANSFER STAMP [If Required] OR NAME & ADDRESS OF PREPARER: Exempt under provisions of Paragraph ______, Section 4, Real Estate Transfer Act Date: Signature of Buyer, Seller or Representative Statement by Grantor and Grantee STATEMENT BY GRANTOR AND GRANTEE [Only Cook County Property] The grantor or his agent affirms that, to the best of his knowledge, the name of the grantee s shown on the deed or assignment of beneficial interest in land trust are either a. natural person, an Illinois corporation or foreign corporation authorized to do business or acquire and hold title to real estate in Illinois, a partnership authorized to do business or ac quire and hold title to real estate in Illinois, or other entity recognized as a person and aut horized to do business or acquire title to real estate under the laws of the State of Illinois. Dated , 20 Signature: ___________________________ Grantor or Agent Subscribed and sworn to before Me by the said ________________________ this _____ day of _____________________, 20____. NOTARY PUBLIC _________________________________________________ The Grantee or his agent affirms and verifies that the name of the g rantee s shown on the deed or assignment of beneficial interest in a land trust are either a na tural person, an Illinois corporation or foreign corporation authorized to do business or acquire and hold title to real e state in Illinois a partnership authorized to do business or entity recognized as a person and a ut horized to do business or acquire and hold title to real estate under the laws of the State of Illi nois. Dated , 20 Signature: ___________________________ Grantee or Agent Subscribed and sworn to before Me by the said ____________________ This ______ day of _________________, 20____. NOTARY PUBLIC ____________________________________________ NOTE: Any person who knowingly submits a false statement concerning t he identity of grantee shall be guilty of a Class C misdemeanor for the first offense and of a Class A misdemeanor for subsequent offenses. (Attach to deed or ABI to be recorded in Cook County, Illinois if e xempt under provisions of Section 4 of the Illinois Real Estate Transfer Tax Act.) Exhibit A EXHIBIT A