Quitclaim Deed
A deed releasing a person's interest in a property without stating the nature of the person's interest or rights, and with no warranties of ownership. While a quitclaim deed neither warrants nor professes that the grantor's claim is valid, it does prevent the grantor from later claiming they have an interest in the property. Investopedia Says:
Since a quitclaim deed makes no assurance that the grantor actually has an ownership interest in a property - but merely states that if they do, they release those ownership rights - when accepting a quitclaim deed the buyer of a property accepts the risks that the grantor of the deed may not have a valid ownership interest and/or that there may be additional ownership interests in the property. Title insurance companies may be unwilling to issue title insurance based on a quitclaim deed. Related Terms:
Conveyance
Deed In Lieu Of Foreclosure
Deed of Release
Investment Real Estate
Landominium
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