A quitclaim deed is a legal document used to transfer real estate from the owner of the real estate (the “grantor”) to another party (the “grantee”).
A quitclaim deed transfers title “as is” and does not provide guarantees or warranties that the grantor has good, marketable title to the property.
Because a quitclaim deed transfers property “as is,” without any guarantees or warranties, it offers little to no protection to a grantee. For example, if a property is quitclaimed with liens against it, then the grantee will be accepting the property with the lien and likely have no recourse against the grantor.
In general, quitclaim deeds are usually only used when a grantor is transferring real estate to a friend, family member, the grantor’s trust, LLC, or corporation.