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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]].
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.
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; they will insist on a [[warranty deed]].
Nonetheless, they are still common in certain real estate transactions, such as:
Nonetheless, they are still common in certain real estate transactions, such as: