What is a quitclaim deed?

A quitclaim deed is a legal document that is used to transfer ownership interest in a property without providing any warranties or guarantees regarding the title. This means that the seller (the grantor) relinquishes any claim they may have to the property, but does not affirm that they own the property free and clear of encumbrances or disputes. Essentially, a quitclaim deed allows the seller to transfer whatever interest they might have in the property to the buyer (the grantee), but it does not protect the buyer against any potential issues with the title.

This type of deed is typically used in situations where the parties are in a relationship of trust, such as among family members or in divorce proceedings, where one party is conveying their interest in the property to the other. The lack of warranties means that the grantee takes on the risk associated with any potential claims against the property that might arise after the transfer.

The other options describe different legal instruments or concepts but do not define a quitclaim deed. For instance, a document used to secure a mortgage refers to a mortgage or security agreement, while a deed issued by the court for property disputes is more accurately described as a court-ordered deed or a partition deed. A contract to lease a property is unrelated