What is a Quitclaim Deed?

A Quitclaim Deed is a real estate document that is often used to transfer real property between people who know each other, like family members, for purposes such as:

• Adding a spouse's name to a property title after marriage or removing their name from the title after a divorce
• Transferring property to a family member, such as a child, grandchild, or sibling
• Transferring property interest from one business partner to another
• Leaving property to someone in a Last Will and Testament upon death

Who are the Parties in a Quitclaim Deed?

The parties in a Quitclaim Deed are:

• The grantor (person transferring the property title)
• The grantee (person receiving the title)

There are situations where a person can be both the grantor and the grantee on the Quitclaim Deed, like if the property owner wants to add a family member to the title.

For instance, let's say that a property owner was recently married. If that property owner wants to give half of the property interest to their new husband or wife, then the property owner would be listed as the grantor, and the property owner and his or her new spouse would be listed as the grantees.

When Should I use a Quitclaim Deed?

A Quitclaim Deed is generally used when a property owner wants to transfer ownership of their property to someone they know, such as a relative or spouse.

Here are some factors to consider before using a Quitclaim Deed:

• With a Quitclaim Deed, there is no warranty to the title of the property, which means that there is no guarantee for the grantee that the grantor owns clear and complete interest in the title and that the property is free from liens. If not having a warranty is a concern, consider using a Warranty Deed instead.
• A properly executed Quitclaim Deed removes a person's name from the property title, but does not remove that person's name from the mortgage, which means that you may still be required to continue paying any debts you acquired while you were the owner of the property.

How Do I Write a Quitclaim Deed?

A Quitclaim Deed should include some basic information, such as:

• Information about the grantor and grantees, keeping in mind that these parties can be individuals or corporations
• Consideration, which is the price paid for the property interest (if the property is a gift, then the consideration could be a small monetary amount such as $1 to 10)
• A legal property description, which can usually be found on an old deed, on the property title, or at your local County Clerk or Registry Office