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What is public records?

are just that open to the public


Where in IL do you record deeds?

must be elected in each county with a population of 60,000 or more, with population of fewer than 60,000, the county clerk serves as the recorder


what is recording?

is the act of placing doc in the public record. the rules for recording doc are a matter of state law. Although the details may very, recording provides a written doc that affects any estate, right, title, or interest in land must be record in the county where located to serve as public notice


how doc eligible for recording?

to be eligible for recording, a doc must be drawn and excited as stipulated in the recording acts of the state in which the real estate is located


what are the requirement for original doc must be filed with county recorder?

1. grantor name typed or printed below is signature
2. full address of the grantee
3. name and address of the person who prepared the deed
4. permanent tax index number
5. common address of the property
6. 3 1/2" and 5" blank space for the use by the recorder (stamp)
7. completed real estate transfer declaration
8. proof of payment of the state and county transfer taxes or indication of any application exemption
9. proof of payment of the municipal transfer tax.


what the deed language must be in?



what is notice?

any one has interest in a parcel of real estate can take certain steps called giving notice


what is constructive notice?

is legal presumption that information may be obtained by an person through due diligence


what is actual notice?

mean only that the information is available but also that someone has been given the information and actually knows it


what is the priority?

this refers to the order of rights in time. many complicated station can affect the priority of the right in a parcel of real estate who record first


what is unrecorded doc?

certain types of liens are not recorded.


what is mechanic's liens not been recorded in IL?

this lien that has not been recorded may nonetheless still have priority over liens that been recorded


What is chain of title?

is recorded of property ownership Beginning with earliest owner, title may pass to many people is linked to the next so that is chain is formed. an unbroken chain of the title can be traced through linking conveyances from the present owner back to the earliest recorded owner. chain of title does not included liens or any other doc not directly related to ownership


what is suit to quiet title?

if ownership can't be traced through an unbroken chain, a gap or cloud in the chain of title is said to exist, in these case the cloud on the title makes is necessary to establish ownership by a court action


what is title search?

is examination of all the public records to determine whether any defects exists in the chain of title


How are the ownership is examined with title search?

beginning with present owns then traced backward to it origins. the time back to which the title must be searched is limited in states that have adopted the Markable Title Act. This law extinguishes certain interest and cure certain defect arising before the root of the title. the conveyance that establishes the source of the chain of title


How long back can a title search go when ownership is examined?

Normally, the root is considered to be 40 years.


what is a normal title search in IL?

each search goes back 40 years under the IL Marketable Title Act. when the possibility of litigation exists, the search must go back 75 years. In cook and du page counties, titles can go back beyond 1871


what is abstract of title?

is summary report of what the title search found in the public records


what is marketable of title?

under the terms of typical real estate contract, the seller required to deliver marketable title to the buyer at the closing


What makes a marketable title?

1. disclose no serious defect and not depend no doubtful questions of law or fact to validity
2. not expose a purchaser to the hazard litigation or threaten the equate enjoyment of the property
3. convince a reasonable well informed and prudent purchaser, acting on business principles and with knowledge of the fact and their legal significance, that he could sell or mortgage the property at a later time


what is proof of ownership?

this is evidence that title is marketable.


Is a deed consider proof of ownership?



what is certificate of title?

is statement of opinion regarding title status on the date the certificate is issued, A certificate of title is not full guarantee of ownership.


what is abstract and attorney opinion of title?

are used areas, including IL, as evidence of title. this opinion of title status based on review of the protect against defects that can't be discovered from the public records.


what is insurance?

is contract under which placeholder is protected from losses arising from defects in the title. the company determines whether the title is unusable based on review of the public records.


what is subrogation?

when a title company make a payment to settle a claim covered by policy. the generally acquired the right any remedy or damages available to the unsure.


How is title insurance use in IL?

this is the most commonly used evidence that an owner of IL real property tenders to prospective purchaser or lender as proof of good title. careful listing agents often request a copy of the first page of the title insurance policy for the files or as the the be certain those selling a property have the right to do so.


what is coverage for title insurance?

exactly which defect the title company will defend on the type of policy.


what is standard coverage for title insurance?

this normally insures the title as it is known form the public records. in addition the standard policy insures against such hidden defect as forged doc, conveyances by incompetent guarantors, incorrect marital statement and improperly delivered deeds.