quitclaim deed(redirected from quitclaims)
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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
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.