Quitclaim Deed
What Is a Quitclaim Deed?
A quitclaim deed transfers whatever ownership interest a person has in a property without guaranteeing clear title.
It does not promise that the grantor actually owns the property free of liens.
Why It Matters in Real Estate
Quitclaim deeds are commonly used for:
- Transfers between family members
- Divorce settlements
- Adding or removing a spouse from title
They are not typically used in standard home sales because they offer no warranty of ownership.
How It Works
- Grantor signs quitclaim deed.
- Ownership interest transfers as-is.
- No title guarantees are provided.
Title insurance is usually not included in quitclaim transfers.
Quitclaim Deed vs. Warranty Deed
Quitclaim → No guarantees
Warranty → Guarantees clear title
The level of protection differs significantly. Ownership transfer and ownership protection are not the same.
FAQs About Quitclaim Deeds
Does a quitclaim deed remove mortgage responsibility?
No, the loan obligation remains unless refinanced.
Can it be reversed?
Only through legal agreement or court action.
Is it safe for home purchases?
It offers limited buyer protection.
Related Terms
