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What is a Quitclaim Deed for a Mortgage?

April 26, 2017areas deed Estate Law Legal mortgage quitclaim

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What is a Quitclaim Deed for a Mortgage?

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A quitclaim deed transfers property interest, but does not extend any guarantee of valid legal ownership on the property, nor against any existing encumbrances. Although a quitclaim deed transfers the ownership interests of the grantor, it does not transfer his mortgage liability.