What is a Quitclaim Deed?
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A deed is essentially a piece of paper that transfers interest in land from one person, called the grantor, to another, called the grantee. It’s essentially a real estate contract. To be legally effective, it must be signed by the grantor and describe the land being conveyed. A quitclaim deed, sometimes erroneously referred to as a “quick claim deed” or “quit claim deed,” is one type of deed. There are also warranty deeds — both a special warranty deed and a general warranty deed. The quitclaim deed transfers whatever interest the grantor has in the property to the grantee. There is an important limitation to the quitclaim deed. Because it only transfers the rights that the grantor has in the property, it does not guarantee that the property is the grantee’s outright. If others with an interest in the property have not signed the deed, then their rights are unaffected by this document — they still retain their ownership. In most cases, the signed quitclaim deed is a simple and effectiv
A quitclaim deed transfers or “releases” to the transferee whatever present right or interest the grantor has in the described property. Unlike a grant deed, a quitclaim deed carries with it no express or implied covenants. Thus, if the grantor holds no interest in the property, a quitclaim deed conveys nothing.
A Quitclaim Deed is used to tranfer an interest in real estate. It does not include any promise or guarantee by the person who is making it (called “Grantor”) regarding the quality or nature of that interest, or even if any interest exists at all. In effect a quitclain deed makes no warranties or guarantees as may be made in otyher types of deeds. Quitclaim deeds can be used for transfers between family members, gifts, to eliminate any clouds on title, or in other unusual or special circumstances. For example a quitclaim might be used by one spouse (the Grantor) to disclaim any interest in a piece of property that the other spouse (the Grantee) owns.
In general, a quitclaim deed is a deed that conveys a grantor’s or seller’s complete interest or claim in certain real property, but that does not warrant or profess that the title is valid. If the grantor has complete interest in the property at the time of conveyance, a valid and complete transfer or property occurs. However, if the grantor has no interest in the property, no interest in the property will be passed to the grantee. Additionally, the quitclaim deed will not provide any recourse to the buyer in this instance. In contrast, a warranty deed is a deed where the grantor guarantees that he or she holds clear title to a piece of real estate and has the right to sell it. Generally, a warranty deed contains one or more covenants of title and expressly guarantees the grantor’s good, clear title. If a warranty deed is used in the transfer of real estate, the grantee has some recourse against the grantor if the grantor does not have complete title to the real estate. A seller who d
