Quitclaim Deed

A Quitclaim Deed:

 

•Provides the grantee with the least protection

•Grantor makes no claims whatsoever

•Grantor may not even own the property

•Any interest that is owned is transferred by the quitclaim deed

 

A quitclaim deed acts as a release of interest, if any, in real property.  It is often used to clear a cloud on the title.

 

Example:

 

Wachovia Bank loaned money against the subject property in 1972.  It was paid off in 1982 but never released in the courthouse.  Wachovia may provide a quitclaim deed that basically says, "I don't know if I have any claim to this property but if I do, I release it."

 

A quitclaim transfers all interests, if any, to the grantee.  If there are no interests, nothing is transferred.  If the grantor has fee simple interest, then fee simple interest is transferred.

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