QUITCLAIM DEED-NOTARIZE

Amends the Conveyances Act. Provides that no quitclaim deed may be recorded in a county with a population of 3,000,000 or more unless each grantor conveying real estate by the quitclaim deed signs or acknowledges his or her signature in the recorder's office before a notary public who is an employee of the recorder's office and who is satisfied that there appears no reason not to notarize the grantor's signature. Provides that a grantor of a quitclaim deed shall acknowledge that he or she read and signed the quitclaim deed and understands that the quitclaim deed conveys any and all interest of the grantor in the real estate conveyed to the grantee. Provides that a quitclaim deed executed by a financial institution conveying an interest that it has in real estate is exempt from the notarization requirement. Provides that a quitclaim deed is exempt from the requirement to have the quitclaim deed notarized in the recorder's office if the quitclaim deed was executed by a grantor and notarized before a notary public other than an employee of the recorder's office for health reasons or because of a disability and if the deed has attached a licensed physician's report attesting to the health reasons or disability based on the physician's personal examination of the grantor within 10 days prior to the execution of the quitclaim deed. Provides that an additional fee of $50 may be collected by the recorder to record a quitclaim deed under the new provisions. Provides that a quitclaim deed that is exempt from any of the new provisions is still subject to the additional fee. Provides that all fees collected under the new provisions shall be deposited into the Recorder's Operation and Administrative Fund created by the recorder, and shall be used to offset the costs incurred by the recorder in performing the additional duties required provided by the new provisions.