Legal Question in Real Estate Law in Illinois

Re: Warranty deeds

The Title and deed are not the same thing. However, a Warranty Deed is perfect for showing ownership.

The person giving the warranty deed warrants (guarantees) that there is clear title. This is only good for a short period of time, however because all kinds of liens and mortgages could be outstanding. To protect yourself, you had better have a title search done before giving one.

Re: Warranty deeds

The warranty deed does not necessarily show ownership. I could give you a warranty deed to the Sears Tower. Of course, I would be breaching the warranties contained in the deed, but this document certainly does not mean you now own the Sears Tower.