What is a Quitclaim Deed?
A Quitclaim Deed works by allowing the owner of a property to quit their claim on it and pass interest to another individual. A good example of this is where a couple own a property and one of them gives up their interest and hands it to the other. In its simplest terms it is a piece of paper that transfers interest in land from one individual to another one. The person who is handing over their interest is referred to as the grantor and the person receiving it will be referred to as the grantee. This deed will sometimes be wrongly referred to as a ‘quick claim deed’.
