quitclaim deed

noun

Definition of quitclaim deed 

: a legal instrument used to release one person's right, title, or interest to another without providing a guarantee or warranty of title

Examples of quitclaim deed in a Sentence

Recent Examples on the Web

Later, she was found incompetent and lawyer Eamon Guerin was appointed as her guardian and a probate judge voided the quitclaim deed. Bruce Vielmetti, Milwaukee Journal Sentinel, "Judge orders couple charged in scam not to enter elderly woman's home," 28 June 2018 According to the charges, Magee created fake quitclaim deeds from his company, Hickory Glade, that purported to convey to himself three properties. Robert Rhoden, NOLA.com, "Northshore Technical College breaks ground for $4.2 million tech center," 9 Apr. 2018 In the purchase agreement and in an accompanying quitclaim deed, Woodward Plaza agreed to develop the property into residential housing. Lori Higgins, Detroit Free Press, "Detroit district, charter school battle over closed school building," 11 Jan. 2018 By July 2016, the Root-Thalmans had filed a quitclaim deed purporting to transfer the victim's house to them. Bruce Vielmetti, Milwaukee Journal Sentinel, "Court official denies request to split up couple accused of scamming elderly neighbor pending fraud case," 8 Jan. 2018 Earlier this week, the economic development committee of the Birmingham City Council approved providing a quitclaim deed to Tupelo Hotels 1031 Acquisition II LLC to clear title issues affecting a portion of the parking garage property. Erin Edgemon, AL.com, "Another hotel could be coming to downtown Birmingham," 27 Jan. 2018 The Journal Sentinel on Friday reported that Robert Yorker, 66, sued Anderson, 44, contending Anderson collected $14,000 by twice selling a home via quitclaim deeds even though Yorker actually owned the property. Mary Spicuzza, Milwaukee Journal Sentinel, "Disgraced ex-real estate broker Gathan Anderson arrested on suspicion of theft by fraud," 26 Sep. 2017

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'quitclaim deed.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of quitclaim deed

1755, in the meaning defined above

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Dictionary Entries near quitclaim deed

quit

quitch

quitclaim

quitclaim deed

quite

quite apart from

quite a while

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The first known use of quitclaim deed was in 1755

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More Definitions for quitclaim deed

quitclaim deed

noun

Financial Definition of quitclaim deed

What It Is

A quitclaim deed is a document that transfers interest in a property to another person.

How It Works

For example, let's say John Doe and Jane Doe are married and live in a house that they own together. John and Jane decide to get a divorce. John gets the house; Jane gets the retirement accounts. As part of the divorce transaction, Jane must sign a quitclaim deed to John Doe so that she officially gives him her half of the house. Through this, the country or municipality removes Jane's name from the title to the property.

It is important to note, however, that Jane may still be liable for the mortgage payments on the property, even after the quitclaim deed is executed.

Why It Matters

A quitclaim deed transfers interest in a property with a simple signature, making them very convenient. However, it is important to note that a quitclaim deed does not require the person signing it to prove that he or she has an interest in the property in the first place. Thus, a quitclaim deed could give the receiver of the deed no guarantee that he or she rightfully owns the property being transferred.

Source: Investing Answers

quitclaim deed

Legal Definition of quitclaim deed 

see deed

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