quitclaim deed

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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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Quitclaim deeds are typically used to transfer property between people who are familiar with one another and who have an established, trusted relationship.
dates, was able to match release documents (usually quitclaim deeds) to
In conclusion, it is easy to see that a seemingly simple request for a quitclaim deed triggers many pitfalls and traps.
The quitclaim deed shows that the two are trying to keep their financial affairs separate after their split.
The divorce decree awarded Wife the real property and ordered Husband to execute a quitclaim deed for it.
When title is conveyed by a quitclaim deed, the seller makes no warranty to the buyer.
Appellant argued that, by inserting quitclaim deed into the first element, without a finding by the jury that the quitclaim deed qualified as a writing described in the applicable statute, the District Court directed a verdict on an element of the crime.
Then, last summer, that deed restriction was eliminated after the county asked the state to sign a quitclaim deed on the property, opening it up for other uses, Dunning said.
When John picks up his individual income tax return, he mentions to his tax adviser that he is planning to have the corporation execute a quitclaim deed next year (Year One) to transfer A to him.
* In 2017, the city administrator and attorney researched its ownership, and concluded that the state never accepted the 1994 quitclaim deed. And contrary to what Alderman Dave Brown's late father, former Mayor Robert Brown, told him, there's no evidence there was a deal for the state to take the dam in 1975, they said.
After several months, the taxpayer was unable to continue making monthly contributions to the partnership and transferred his interest in the partnership by quitclaim deed to another partner when his capital account in the partnership was negative.