A quitclaim deed is a legal document that transfers ownership of a piece of property from one person to another. The person giving up their ownership is known as the grantor, while the person receiving ownership is known as the grantee.
Quitclaim deeds are commonly used when the grantor wants to give up all interest in a property, such as transferring ownership to a family member or selling the property to a new owner.
Quitclaim deeds are typically very simple documents that do not contain any warranties about the property being transferred, which means that the grantee will be responsible for dealing with any problems with the property, such as undisclosed liens or encumbrances. For this reason, quitclaim deeds are usually only used between parties who know each other well and trust each other.
Published: Feb 9, 2023
Updated: Oct 27, 2022