quitclaim deed

Also found in: Dictionary, Thesaurus, Legal, Encyclopedia, Wikipedia.
Related to quitclaim deed: Warranty deed, Special Warranty Deed

Quitclaim Deed

A deed releasing the interest or ownership, if any, that the writer, known as a grantor, has in a property. It is important to note that a quitclaim deed does not attest that the grantor actually has an ownership interest in the property; it merely states that the grantor no longer claims to have one. One who buys a property in exchange for a quitclaim deed therefore accepts the possibility that another person or persons have an ownership interest in it. For this reason, some property insurance companies do not provide coverage for a property with only a quitclaim deed.

quitclaim deed

A deed with no warranties at all.The grantor conveys anything it might own at the moment, but makes no representations or warranties it owns anything. It is the normal vehicle for clearing up title defects.

References in periodicals archive ?
The possibility of Wife losing the property to the IRS could have been avoided if she had simply registered the quitclaim deed given to her by husband promptly.
The lawsuit seeks a judicial declaration terminating the agreements with Tenet, an order forcing Tenet to vacate the premises and an order mandating that Tenet deliver a quitclaim deed to USC to clear title to the premises.
In compliance with its original Termination Notice effective January 22, 2005, Golden Phoenix had already executed a Quitclaim Deed conveying all mineral rights back to International Enexco, with no encumbrances remaining.
The winning bid will acquire a Quitclaim Deed for the famous property, plus a signed copy of my book Night of the Realtors," said Jenneson on his eBid page.
Scott Haislet discusses taxes and quitclaim deeds in June 25 article on Time magazine's Money website .
Fast-forward 30 months, the time law enforcement caught up with the scammer, he "owned" numerous houses and had up to 15 people buying houses and quitclaiming, or signing quitclaim deeds to transfer any interest in the properties to him.
The number of quitclaim deeds for tank and leak incident transactions was very small: Only four tank properties sold had this weak form of deed upon transfer (4.
To speed the recovery effort, FNTG offices in Southern California are ready to send firestorm victims who contact them copies of their grant deeds, quitclaim deeds (if applicable), and all open deeds of trust, which can help victims in dealing with insurance companies, mortgage lenders, financial planners and estate planners.