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Quitclaim Deed

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Dictionary Says

Definition of 'Quitclaim Deed'

A deed releasing a person's interest in a property without stating the nature of the person's interest or rights, and with no warranties of ownership. While a quitclaim deed neither warrants nor professes that the grantor's claim is valid, it does prevent the grantor from later claiming they have an interest in the property.
Investopedia Says

Investopedia explains 'Quitclaim Deed'

Since a quitclaim deed makes no assurance that the grantor actually has an ownership interest in a property - but merely states that if they do, they release those ownership rights - when accepting a quitclaim deed the buyer of a property accepts the risks that the grantor of the deed may not have a valid ownership interest and/or that there may be additional ownership interests in the property. Title insurance companies may be unwilling to issue title insurance based on a quitclaim deed.

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