Quitclaim

/ˈkwɪtˌkleɪm/ noun

Definition

A type of deed that transfers whatever ownership interest the grantor has in property, without warranties or guarantees about the extent or validity of that interest.

Etymology

From 'quit' (to release or discharge) and 'claim,' literally meaning to 'give up all claims.' This Anglo-Norman legal concept allowed property transfers without the grantor promising they actually owned what they were transferring.

Kelly Says

A quitclaim deed is like saying 'here's whatever I might own, if anything'—it's the legal equivalent of selling something 'as is' with absolutely no warranty! It's perfect for family transfers but dangerous for arms-length purchases since you might get nothing at all.

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