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What is an example of a quit-claim deed?

A:

Quick Answer

A quit claim deed is when a person transferring property makes no guarantees regarding his interest in the property, explains LegalZoom. Unlike a warranty deed, where the seller warrants his interest in the title, a quit claim deed lacks warranty, says Fortenberry Law.

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Full Answer

Quit claim deeds are commonly used when there is already a pre-existing relationship between the grantor and the grantee, explains Fortenberry Law. Common transfers made using a quit claim deed are property transferred between family members, transfer of property from a grantor to a business where the business is owned by the grantor, and property that is gifted.

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