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Form #1030

Deed in Trust - General Form

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Deed in trust—General form.

Grantor, of _________[address], for and in consideration of $_____ and other valuable consideration, conveys and quitclaims to _________[name], its successor or successors, as trustee under a trust agreement dated _________, the following described real estate in the County of _________, State of Illinois: _________[legal description], referred to as the real estate, to have and to hold the real estate with its appurtenances on the trusts and for the purposes here and in the trust agreement set forth.

Full authority is granted to trustee:

(1) To improve, manage, protect, subdivide, and re-subdivide the real estate or any part of it;

(2) To dedicate parks, streets, highways or alleys, and to vacate any subdivision or part of it;

(3) To contract to sell or exchange; to grant options to purchase; to sell on any terms; and to convey either with or without consideration;

(4) To convey the real estate or any part of it to a successor or successors in trust, and to grant to these successor or successors in trust all of the title, estate, powers, and authorities vested in trustee;

(5) To donate, to dedicate, to mortgage or otherwise encumber the real estate or any part of it;

(6) To lease the real estate or any part of it, in possession or reversion, on any terms and for any period, or periods of time; and to renew or extend leases on any terms and for any period or periods of time, and to amend, change or modify the leases and the terms and provisions of them;

(7) To contract to make leases and to grant options to lease and options to renew leases and options to purchase the whole or any part of the reversion, and to contract respecting the manner or fixing the amount of present or future rentals;

(8) To execute grants of easements or charges of any kind;

(9) To release, convey or assign any right, title, or interest in or about or easement appurtenant to the real estate or any part of it;

(10) To deal with title to the real estate and every part of it in any way and for consideration that would be lawful for any person owning the title to the real estate to deal with it, whether similar to or different from the ways specified above.

In no case shall any party dealing with trustee in relation to the real estate or to whom the real estate or any part of it is conveyed, contracted to be sold, leased, or mortgaged by the trustee be obliged to see to the application of any purchase-money, rent, or money borrowed or advanced on the real estate, or be obliged to see that the terms of the trust have been complied with or be obliged to inquire into the necessity or expediency of any act of the trustee, or be obliged or privileged to inquire into any of the terms of the trust agreement. Every deed, trust deed, mortgage, lease, or other instrument executed by trustee in relation to the real estate shall be conclusive evidence in favor of every person relying on or claiming under any conveyance, lease, or other instrument of this type: (a) that at the time of delivery, the trust created here and by the trust agreement was in full force and effect, (b) that the conveyance or other instrument was executed in accordance with the trusts, conditions, and limitations contained here and in the trust agreement or in the amendments, and binding on all beneficiaries, (c) that trustee was authorized to execute and deliver every deed, trust deed, lease, mortgage, or other instrument of this type, and (d) if the conveyance is made to a successor or successors in trust, that the successor or successors in trust have been properly appointed and are fully vested with all the title, estate, rights, powers, authorities, duties, and obligations of its, his, hers or their predecessor in trust.

The interest of each beneficiary under the trust agreement and of all persons claiming under them or any of them shall be only in the possession, earnings, and the avails and proceeds arising from the sale, mortgage or other disposition of the real estate, and this interest is declared here to be personal property. No beneficiary shall have any title or interest, legal or equitable, in or to the real estate, but only an interest in the possession, earnings, avails, and proceeds from it.

If the title to any of the above lands is registered now or in the future, the Registrar of Titles is directed here not to register or note in the certificate of title or duplicate of it, or memorial, the words "interest" or "upon condition" or "with limitations," or words of similar import, in accordance with the statute in this case.

Grantor expressly waives and releases all right or benefit under and by virtue of all statutes of the State of Illinois providing for the exemption of homesteads from sale on execution or otherwise.

Executed at _________[place] on _________[date].

[Signature]

[Acknowledgment]

This instrument was prepared by _________[name] _________[address].

Contributed by
Anonymous3
 
Name of Firm Anonymous3
Total Forms Contributed 102
 

See All Anonymous3's Forms
 

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Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
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Keywords: legal forms, deed, land trust

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