What defines a quitclaim deed?

A quitclaim deed is a specific type of legal document used in real estate transactions that effectively transfers whatever interest the seller has in a property to the buyer without any warranties or guarantees regarding the title. This means that the seller is not responsible for guaranteeing that the title is clear of any liens or encumbrances. The buyer receives the interest as-is and must accept the risk that the seller may not have a valid or clear title to convey.

In contrast, other types of deeds, such as warranty deeds, do provide assurances regarding the status of the title, including that it is free from any debts or claims. A quitclaim deed is often used among family members or in situations where parties are familiar with each other and the property’s history. The absence of title guarantees means it is a more straightforward but riskier option for the buyer, as they bear the burden of any potential title issues that may arise after the purchase.