What is a quitclaim deed?

A quitclaim deed is a legal document that transfers any interest an individual may have in a property to another party without making any warranties about the title. This means that the person transferring the property (the grantor) is not guaranteeing that they actually own the property or that there are no liens or other claims against it. Essentially, it conveys whatever interest the grantor has at that time, if any, to the grantee, but does not ensure that the property is free of problems or that the grantor has the legal right to transfer it.

This type of deed is commonly used in situations where the parties know each other, such as between family members transferring property, or to clear up any potential issues regarding ownership. The lack of warranties makes it distinct from other deed types, such as warranty deeds, which do provide guarantees about the title and the grantor's ownership.