what is a quitclaim deed

A quitclaim deed is a legal document used to transfer ownership of real property from one party to another. It is a formal renunciation of a legal claim against some other person, or of a right to land. Unlike other types of deeds, such as general warranty and special warranty deeds, a quitclaim deed offers no protection for the buyer. This means that the grantor transfers any interest they have in the property to the recipient (the grantee) without offering any guarantee as to the extent of that interest. There may even be no guarantee that the grantor owns the property or has any legal interest in it whatsoever. A quitclaim deed usually includes a legal description of the property, the name of the person who is transferring their interest, the name of the person who is receiving that interest (the grantee), the date, and both parties’ notarized signatures. Quitclaim deeds are most commonly used for transferring real estate without a traditional sale, such as transferring property between family members, adding a new spouse’s name to a property, removing an ex-spouse’s name from a property after a divorce, or clarifying ownership of inherited property.