An Illinois special warranty deed is a document that conveys property while assuring that the seller (grantor) has the right to sell and that they’re not conveying a title with encumbrances from their time as owner. This deed’s warranties and covenants apply only to the grantor; a previous owner may have done something to encumber the title before the grantor’s time (e.g., fail to pay taxes, leave the title to a beneficiary upon their death). Any claims against the title from the actions of previous owners will be the responsibility of the grantee to settle or clear.
- Statutes: 765 ILCS 5 – Conveyances Act
- Formatting: 765 ILCS 5/9
- Signing Requirements (765 ILCS 5/20): Notary Public
- Where to Record (765 ILCS 5/28): County Recorder’s Office
- Recording Fees (55 ILCS 5/4-12002.1(1)): Minumum $20 plus an additional $9 for the Rental Housing Support Program State surcharge.
- Required Forms:
- Form PTAX-203 (PDF / Online): Unless an exemption notation has been provided, this document must be filed with every recorded deed.
- Form PTAX-203-A (PDF): For non-residential transfers with a sale price exceeding $1 million.
- Form PTAX-203-B (PDF): For beneficial interest transfers.
- Form PTAX-203-NR (PDF): For non-recorded transfers.
- Radon Disclosure (420 ILCS § 46/1): Illinois law stipulates that anyone wishing to sell residential property must provide prospective buyers with two (2) documents: the Disclosure of Information on Radon Hazards and the Radon Testing Guidelines for Real Estate Transactions.
- Residential Property Disclosure Statement (765 ILCS 77/35 & 765 ILCS 77/20): Homeowners wishing to sell their property must complete this document detailing important features and defects on the property that may affect its value to prospective buyers.