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Legal Dictionary

quitclaim deed

Legal Definition of quitclaim deed

Noun

  1. A conveyance, in the nature of a release, of all the maker's interest in the land in question, but not professing that the title is valid, nor containing any warranty or covenants for title.

Definition of quitclaim deed

Further reading

A quitclaim deed is a term used to describe a document by which a person (the "grantor") disclaims any interest the grantor may have in a piece of real property and passes that claim to another person (the grantee). A quitclaim deed neither warrants nor professes that the grantor's claim is valid. By contrast, the deeds normally used for real estate sales (called grant deeds or warranty deeds, depending on the jurisdiction) contain guarantees from the grantor to the grantee that the title is clear. The exact nature of the warranties varies from jurisdiction to jurisdiction. Quitclaim deeds are sometimes used for transfers between family members, gifts, placing personal property into a business entity, to eliminate clouds on title, or in other special or unusual circumstances.

The most common use for a quitclaim deed is, in a divorce situation, where one party is granting the other full rights to, and eliminating any interest in, a property in which both parties held an interest. If a husband and wife own a home and divorce, and the wife acquires the home in the decree, the husband would enact a quitclaim deed to eliminate interest in the property. Quitclaim deeds are also typically provided in cases of tax deed sales where property is auctioned off to pay outstanding tax debt. The auctioning body is usually a local government, which claims no interest in the property whatsoever, but is selling it only to recover the back taxes.

References:

  1. Wiktionary. Published under the Creative Commons Attribution/Share-Alike License.



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