QUITCLAIM DEED
(State of Illinois)
[// GUIDANCE: This template is drafted to comply with Illinois Conveyances Act requirements, Illinois Real Estate Transfer Tax Act, and local recording standards. All bracketed items must be completed prior to execution and recordation. Remove guidance comments before finalizing.]
TABLE OF CONTENTS
- Document Header
- Definitions
- Operative Provisions
- Representations & Warranties
- Covenants & Restrictions
- Default & Remedies
- Risk Allocation
- Dispute Resolution
- General Provisions
- Execution & Acknowledgment Block
1. DOCUMENT HEADER
QUITCLAIM DEED
This Quitclaim Deed (“Deed”) is made as of [EFFECTIVE DATE] (the “Effective Date”), by and between:
• [GRANTOR LEGAL NAME], [INDIVIDUAL / ENTITY TYPE], whose mailing address is [GRANTOR ADDRESS] (“Grantor”); and
• [GRANTEE LEGAL NAME], [INDIVIDUAL / ENTITY TYPE], whose mailing address is [GRANTEE ADDRESS] (“Grantee”).
Recitals
A. Grantor is the owner of whatever right, title, and interest Grantor may have in and to the real property legally described in Exhibit A attached hereto and made a part hereof (the “Property”).
B. Grantor desires to convey, and Grantee desires to accept, all of Grantor’s right, title, and interest in and to the Property, on the terms set forth herein.
Consideration
For and in consideration of the sum of [WRITTEN AMOUNT] Dollars (US $[NUMERIC]) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Grantor hereby executes this Deed.
2. DEFINITIONS
“Deed” has the meaning set forth in the preamble.
“Effective Date” means the date first written above.
“Grantor” and “Grantee” have the meanings set forth in the Document Header.
“Legal Description” means the description of the Property set forth in Exhibit A.
“PIN” means the Parcel Identification Number(s) assigned by the County.
“Property” has the meaning set forth in Recital A.
“Recording Act” means the Illinois recording statutes and local county recorder requirements.
3. OPERATIVE PROVISIONS
3.1 Conveyance. Subject to the terms herein, Grantor does hereby remise, release, and forever quitclaim unto Grantee, without warranty of title, express or implied, all right, title, and interest of Grantor, if any, in and to the Property, together with all improvements and appurtenances thereunto belonging.
3.2 Delivery & Acceptance. Delivery of this Deed shall be deemed complete upon (i) Grantor’s execution and acknowledgment, and (ii) physical or electronic tender of the Deed to Grantee. Acceptance shall occur automatically upon any of (a) recording of this Deed, (b) payment of the consideration, or (c) written acceptance by Grantee.
3.3 Recording Obligations.
(a) Within the earlier of (i) ten (10) business days after the Effective Date or (ii) contemporaneously with closing, Grantee shall record this Deed in the Office of the Recorder of [COUNTY] County, Illinois, in compliance with local formatting requirements, including but not limited to: 3-inch by 5-inch blank space in the upper right-hand corner of the first page, ½-inch margins on all remaining edges, and use of 10-point font or larger.
(b) Prior to recording, Grantee shall complete and file the Illinois Real Estate Transfer Declaration (Form PTAX-203) or, where mandated, electronically through MyDec, and shall pay all state, county, and municipal transfer taxes and stamps.
3.4 Post-Closing Cooperation. Grantor shall execute any additional instruments reasonably required to effectuate recordation or correct clerical errors, at Grantee’s sole cost, provided such instruments do not increase Grantor’s liability.
4. REPRESENTATIONS & WARRANTIES
4.1 Grantor. Grantor represents solely that (i) Grantor has lawful authority to execute this Deed on behalf of all titleholders of record, and (ii) Grantor has not previously conveyed the Property to any other person.
4.2 Disclaimer of Additional Warranties. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 4.1, GRANTOR MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF TITLE, QUIET ENJOYMENT, HABITABILITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR AGAINST ENCUMBRANCES.
4.3 Survival. The limited representations in Section 4.1 shall survive delivery of this Deed for a period of one (1) year and shall thereafter terminate automatically.
5. COVENANTS & RESTRICTIONS
5.1 Further Assurances. Grantor shall, upon reasonable request, furnish affidavits or certificates of title customarily required by the title company selected by Grantee, provided such documents are consistent with Section 4.2.
5.2 Use Restrictions. Nothing herein imposes any covenant running with the land; any zoning, environmental, or other land-use restrictions remain governed solely by applicable law.
6. DEFAULT & REMEDIES
6.1 Event of Default. Failure of either party to perform its obligations under Sections 3.3 or 5.1 within fifteen (15) days after written notice constitutes an “Event of Default.”
6.2 Remedies. Upon an Event of Default, the non-defaulting party may:
(a) Seek specific performance to compel delivery, recordation, or execution of curative documents; and/or
(b) Recover direct, out-of-pocket costs not to exceed the consideration actually paid.
[// GUIDANCE: Consistent with “no warranties” and “limited injunctive relief,” remedies are narrowly tailored.]
6.3 Attorneys’ Fees. The prevailing party in any action to enforce this Deed shall be entitled to reasonable attorneys’ fees and court costs, capped at 25 % of the consideration stated above.
7. RISK ALLOCATION
7.1 Indemnification. None. Each party bears its own risk except as expressly provided herein.
7.2 Limitation of Liability. EXCEPT FOR WILLFUL MISCONDUCT OR FRAUD, NEITHER PARTY SHALL BE LIABLE FOR CONSEQUENTIAL, INCIDENTAL, EXEMPLARY, OR PUNITIVE DAMAGES OF ANY KIND.
7.3 Force Majeure. Performance deadlines shall be suspended for acts of God, governmental orders, or other events beyond the reasonable control of the affected party, but only for the period of delay caused thereby.
8. DISPUTE RESOLUTION
8.1 Governing Law. This Deed and any dispute arising hereunder shall be governed by and construed in accordance with the laws of the State of Illinois, without regard to its conflicts-of-law principles.
8.2 Forum Selection. Exclusive jurisdiction and venue shall lie in the Circuit Court of [COUNTY] County, Illinois.
8.3 Arbitration. Excluded.
8.4 Jury Waiver. None.
8.5 Injunctive Relief. The parties acknowledge that monetary damages may be inadequate for a breach of Section 6.1; however, injunctive relief shall be limited strictly to compelling execution, delivery, or recordation of conveyance instruments and shall not extend to any ancillary or collateral matters.
9. GENERAL PROVISIONS
9.1 Entire Agreement. This Deed constitutes the entire agreement between the parties concerning the conveyance of the Property and supersedes all prior oral or written agreements.
9.2 Amendment & Waiver. No amendment or waiver shall be valid unless in writing and executed by the party against whom enforcement is sought.
9.3 Assignment. Grantee may assign its interest prior to recordation upon notice to Grantor; no other assignments are permitted without Grantor’s prior written consent.
9.4 Successors & Assigns. Subject to Section 9.3, this Deed shall bind and inure to the benefit of the parties and their respective successors and assigns.
9.5 Severability. If any provision is determined invalid, the remainder shall remain in full force, and the invalid provision shall be reformed to the minimum extent necessary to achieve its intent.
9.6 Counterparts; Electronic Signatures. This Deed may be executed in any number of counterparts, each of which shall be deemed an original. Signatures transmitted by electronic means shall be deemed original and binding.
10. EXECUTION & ACKNOWLEDGMENT BLOCK
[RETURN TO:]
[NAME]
[ADDRESS]
[// GUIDANCE: Illinois requires return address on first page.]
[PROPERTY ADDRESS:]
[STREET ADDRESS], [CITY], Illinois [ZIP]
[PERMANENT INDEX NUMBER:]
[PIN]
GRANTOR:
[GRANTOR LEGAL NAME]
By: _____
Name: ____
Its: _____
Date: ______
[If individual:]
[GRANTOR LEGAL NAME], [MARITAL STATUS]
Date: ______
GRANTEE (acknowledgment of acceptance, optional but recommended):
[GRANTEE LEGAL NAME]
By: _____
Name: ____
Its: _____
Date: ______
NOTARY ACKNOWLEDGMENT (ILLINOIS – INDIVIDUAL)
State of Illinois )
) SS
County of ____ )
I, ______, a Notary Public in and for said County and State, do hereby certify that [GRANTOR NAME], personally known to me (or proven to me on the basis of satisfactory evidence) to be the same person whose name is subscribed to the foregoing instrument, appeared before me this day in person and acknowledged that he/she signed and delivered the said instrument as his/her free and voluntary act, for the uses and purposes therein set forth.
Given under my hand and official seal this ___ day of ____, 20__.
Notary Public
My Commission Expires: _______
[// GUIDANCE: Use the corporate acknowledgment form in 765 ILCS 5/20 for entity grantors.]
EXHIBIT A
Legal Description of the Property
[INSERT FULL METES AND BOUNDS OR PLAT DESCRIPTION]
[// GUIDANCE: Prior to recordation, attach completed PTAX-203/MyDec confirmation page, municipal transfer stamp (if applicable), and review county-specific cover sheet requirements.]