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A '''quitclaim deed''' is a [[deed]] without [[warranty]] of title which passes whatever title the granter has to another. [[Category:Legal Terms]]
A '''quitclaim deed''' is a [[deed]] without [[warranty]] of title, where the seller (the ''grantor'') sells to a buyer (the ''grantee'') whatever interest, if any, the seller has in the underlying [[real estate]].
Because there is no warranty, there is often little or no recourse if it turns out that the seller has absolutely no interest in the real estate whatsoever. As a result, [[mortgage]] companies will rarely, if ever, agree to a mortgage where the sale is via quitclaim deed.
Nonetheless, they are still common in certain real estate transactions, such as:
*gifts from one family member to another
*where a married couple is divorcing, and one spouse is quitclaiming his/her interest in the property to the other<ref>However, this does not relieve that party of any obligations under a mortgage.</ref>
*The most common use is when a property is seized by a governmental entity for nonpayment of property taxes, and the entity sells the property to a third party. In this case, likely the buyer will need to initiate a [[quiet title action]] to clear title for marketability purposes.
[[Category:Real Estate]]
[[Category:Legal Terms]]