Phoenix, AZ asked in Estate Planning, Real Estate Law and Probate for Illinois

Q: Quit Claim Validity..Is a quit claim valid and legal if the consideration amount recorded is fraudulent and

no financial transaction actually occured.

1 Lawyer Answer
  • Estate Planning Lawyer
  • Moline, IL
  • Licensed in Illinois

A: Deeds don't normally show the consideration.

A token amount such as $10.00 is all that is needed.

Often, there is no consideration.

For example, parents gifting a house to their child.

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