Illinois Quitclaim Deed Form

Last Updated: January 3, 2024 by Rukshani Lye

Illinois Quitclaim Deed Template_1 on iPropertyManagement.com
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Last Updated: January 3, 2024 by Rukshani Lye

What is a Quitclaim Deed in Illinois?

In Illinois, a quitclaim deed is used to transfer property from an owner (“Grantor”) to a new owner (“Grantee”) without any promises or guarantees about the property’s title. Quitclaim deeds are a quick way to transfer property but offer the lowest security among real estate deeds in Illinois.

The most common use of quitclaim deeds is between parties with high levels of trust, such as family members or close friends.

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What is the Difference Between a Quitclaim Deed and a Warranty Deed in Illinois?

The main difference between quitclaim deeds and warranty deeds in Illinois is that a quitclaim deed provides less security to the Grantee.

A warranty deed provides legal protection to the new owner because it confirms that the Grantor owns the property and has the right to make a transfer.

Warranty deeds are used for most real estate transactions in Illinois. Quitclaim deeds, on the other hand, are typically used for transfers between family and friends.

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How Do Quitclaim Deeds Work in Illinois?

Laws surrounding quitclaim deeds are found in Chapter 765 of the Illinois Compiled Statutes, titled Real Property.

In Illinois, a quitclaim deed must be in writing. It must state that the Grantor intends to “convey, release, and quitclaim” the property to the Grantee.

In Illinois counties with less than 60,000 residents, the quitclaim deed should be filed at the County Clerk’s Office.

Except for Cook County, Illinois counties with more than 60,000 residents require the quitclaim deed to be filed at the county Recorder’s Office.

Can You Prepare Your Own Quitclaim Deed in Illinois?

You can prepare your own quitclaim deed in Illinois. A professional drafter is not legally required.

The name and address of the individual who drafted the deed must be mentioned under “Prepared by.”

Illinois Quitclaim Deed Requirements

For a quitclaim to be legally valid in Illinois, the deed must follow certain state-specific rules.

Formatting Requirements

Formatting requirements for quitclaim deeds in Illinois include:

  1. Paper size: letter (8.5 x 11); maps or plats with images can be up to 11 x 17.
  2. Paper weight: minimum 20 lbs; white color.
  3. Text color: black or photocopy-friendly.
  4. Margins: 3 × 5 inches on first page, top-right for recorder’s stamp; minimum 0.5-inch margin on all remaining sides of the deed.
  5. Printed or typed only.
  6. Each page in separate, unnumbered sheets.
  7. Pages should be unbound and unstapled; no attachments.

Content Requirements

Content requirements for quitclaim deeds in Illinois include:

  1. Grantor’s name and address.
  2. Grantee’s name and address.
  3. Drafter’s name and address.
  4. Return name and address.
  5. Taxpayer’s name and address.
  6. Granting clause – a statement on the transfer agreed upon.
  7. Consideration clause – the value or the amount of money exchanged.
  8. Tax-exempt transfers must mention the basis.
  9. Property address.
  10. Property description.
  11. Property Identification Number (PIN).
  • The PIN is also the Parcel ID or the Property Index Number.
  • In counties with over 3,000,000 (ex: Cook County), the Grantor must give the Grantee the PIN to match the property’s legal description in the deed.
  • If the PIN doesn’t match, the Grantor must show proof of application for a property division, a recorded subdivision map, or a recorded condominium declaration.

Who Signs a Quitclaim Deed in Illinois?

For a quitclaim deed to be legally valid in Illinois, it must be signed by the Grantor. The Grantor must have the deed acknowledged by a notary public.

If marital property is listed as a homestead, both spouses must sign the quitclaim deed. Alternatively, a waiver of homestead rights can be attached.

How to File a Quitclaim Deed in Illinois

Here’s how to file a quitclaim deed in Illinois:

  1. Prepare the quitclaim deed with the information required.
  2. Once it is signed, ensure that a notary acknowledges the Grantor’s signature.
  3. Complete a Transfer Tax Declaration (Form PTAX-203). If the transfer is tax-exempt, indicate the exemption on the deed.
  4. Ensure real property transfer tax is paid at the time of recording; additional county and municipal transfer tax may apply.
  5. File the quitclaim deed, along with the relevant information with the County Clerk’s or the County Recorder’s Office.

How Much Does it Cost to File a Quitclaim Deed in Illinois?

In Illinois, the minimum charges for filing a deed are as follows:

1. Recording Fees.

The base recording fees for deeds in Illinois include:

  • $12 for deeds up to four pages
  • $1 additional charge for each extra page.
  • $50 per page for maps or plats; $1 for each additional page.
  • Actual filing fees charged by counties vary and are often higher. For instance, in Cook County, the flat fee for recording a deed is $107.

2. The Rental Housing Support Program surcharge.

    • $18 per deed.
    • The fee applies to all real estate-related documents.

    What Taxes Are Owed on Quitclaim Deeds in Illinois?

    The transfer of a property through a quitclaim deed triggers the following Realty Transfer Tax in Illinois:

    • Illinois state transfer tax is $0.50 per $500.
    • County transfer tax rate is $0.25 per $500.

    The total amount payable is calculated on the property’s value or the amount of consideration paid. Additional city and municipal tax rates may apply.

    In Illinois, many transfers that are generally filed under quitclaim deeds are tax-exempt, including:

    • Deeds that modify or confirm prior ones without added payment.
    • Deeds with consideration less than $100.
    • Deeds releasing property used as security for a debt.
    • Deeds of partition.
    • Deeds related to asset transfers under federal laws.
    • Deeds from a subsidiary corporation to its parent, with no consideration.
    • Deeds involving actual property or beneficial interest exchanges.

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    How Long Does a Quitclaim Deed Take to be Recorded in Illinois?

    The time taken to record a quitclaim deed in Illinois can vary depending on the county’s procedures, staffing levels, and local requirements. Generally, it can take from days to weeks. In certain cases, especially in cities like Chicago, it could take a month or more.

    What Happens After a Quitclaim Deed is Recorded in Illinois?

    In Illinois, once the deed is signed and executed, it can be filed with the county. If the deed has no prior filings, the transfer of property ownership will be recorded as an official public record.

    How Long Are Quitclaim Deeds Valid For in Illinois?

    There is no expiration for quitclaim deeds in Illinois. However, the statute of limitations for breaching a written contract in Illinois is 40 years.

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