Process of Adding or Removing Names From a Property Title + Deed
What is a title?
A title is a legal right to ownership of a property, including the right to sell. The title will show who owns the property, what liens affect the seller’s ownership (i.e. mortgages, unpaid taxes, judgments), easements, building restrictions, set-back lines, or other matters of record that affect the property.
The real estate legal team at ARK Attorneys will review our client’s title document, and clear up items not permitted by contract that could affect ownership rights. After the close, buyers will be issued an owner’s title insurance policy, insuring their ownership rights subject to the terms of the policy.
What is a deed?
Deeds are official written documents. Cook County requires deeds to be recorded at the Cook County Clerk’s office (contact us today and take advantage of our e-recording services). A deed contains a description of the property (including property lines) and states the buyer and the seller.
The difference between title and deed is that a deed is an official written document declaring a person’s legal ownership of a property, while a title refers to the concept of ownership rights.
Documents needed to record your deed in Cook County
According to the Cook Country Clerk’s website, you need the following information and documents in order to record your deed in Cook County :
- Full Name and Address of Document Preparer
- Complete Legal Description of Property (Excluding Assignment of
- Beneficial Interests (“ABIs”))
- Property Tax Number (PIN) (Excluding ABIs)
- Property Address
- Document “Mail To” Address
Any Deed (Quit Claim/Warranty/Etc.,) must additionally must have:
- City/State/County transfer tax declarations and stamps or transfer tax exemptions (check with the local city/village where the property is located for requirements)
- Full name and address of Grantee(s) on deed
- Statement grantor/grantee affidavit (exempt transfers and EZDec transfers)
- Name and address for future tax bill mailings
Any Mortgage and Trust Deed must have:
- State of Illinois Anti-Predatory Lending Certificate of Exemption or Compliance (www.ilapld.com)
Different types of deeds
- General warranty deed – protects the buyer by assuring them that the seller has full title and is the sole property owner with rights to sell
- Special warranty deed – seller guarantees to the buyer that title has been free and clear during their ownership. It does not guarantee clear title beyond their ownership
- Quitclaim deed – the property owner transfer the entire interest in the property to the recipient, often without any money changing hands
When Would You Need to Change Title on Your Home’s Deed?
- You get married
- You get divorced
- Your spouse dies
- You inherit a home
When buying a home, it’s very important to understand exactly what you’re getting when dealing with title and different types of deeds. Contact Chicago real estate law firm ARK Attorneys with any questions. 312.753.3142