A Quitclaim Deed is a form of conveyance whereby the person is transferring whatever interest they have in a property with no warranties. They do not state or warrant that they have any interest in the property. To give an example, I could sign a quitclaim deed for your house, although I have no ownership in it, and give it to a third party. I’m not stating that I have any ownership interest in your house, therefore I would be conveying no title in the property and would have no liability to transfer the deed to someone else, other than clouding the title, which could become a problem for you.
On the other hand, if I gave you a quitclaim deed to property that I own, I would be conveying marketable title or clear title to the property, or whatever interest I may have, whether it be subject to a mortgage or not.
So a Quitclaim Deed is simply a form of conveyance or a deed that says I convey whatever interest I may have in the property to you, whether it be no interest or a good title to the property. If you’re interested in us handling your real estate transactions or preparing deeds for you, give us a call at (727) 847-2288.