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quitclaim deed definition
a real property deed which transfers (conveys) only that interest in the property
in which the grantor has title. Commonly used in transfers of title or interests
in title, quitclaims are often made to family members, divorcing spouses, or in
other transactions between people well-known to each other. Quitclaim deeds are
also used to clear up questions of full title when a person has a possible but unknown
interest in the property. Grant deeds and warranty deeds guarantee (warrant) that
the grantor has full title to the property or the interest the deed states is being
conveyed, but quitclaim deeds do not warrant good title.
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