What is a Quitclaim Deed?
Get Legal Help Today
Secured with SHA-256 Encryption
UPDATED: Jul 16, 2021
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
A quitclaim deed is a real estate document that legally transfers a property interest from one person (the grantor) to another (the grantee). It is considered a quick and simple way to transfer property, but does not carry any warranties with it.
Representations in a Quitclaim Deed
A quitclaim deed transfers only the grantor’s interest in the particular property to the grantee. The grantor makes no promises and offers no warranties, but coveys only what he has to the grantee. If the grantor has nothing, the grantee gets nothing. If the grantee later discovers a lien on the property he received, he cannot turn around and successfully sue the grantor for his losses from the encumbrance. The grantor has made no guarantees that he would make through a warranty deed. As such, a title insurance company would not usually issue title insurance based on a quitclaim deed.
Situations For a Quitclaim Deed
A quitclaim deed is simple to do and requires much less paperwork than a typical property transfer conveyance. Since the quitclaim deed offers no warranties, it is most likely used to transfer a property interest between relatives. The quitclaim deed is commonly used in wills and living trusts or in situations where a seller may have previously retained a partial interest in the property and now wishes to transfer the remainder to the new owner. Another use is in a divorce where one party terminates an interest in the home and transfers full rights to the other spouse. The transfer is done easily and without much expense. Rules vary in each state to ensure legality, but most require notarization and filing with the local land records office. Check with your local county recorder’s office for details on how to ensure the validity of a quitclaim deed in your area.
Seek Legal Advice on Drafting a Quitclaim Deed
Consider consulting an attorney before preparing or signing any quitclaim deed. Not only can a real estate lawyer assist you in complying with the drafting requirements to make a quitclaim deed legally valid, but the attorney can also help ensure your rights are protected with regard to any outstanding mortgages owed on the property or any claims that may be attached to the real estate.