Recent Examples of quitclaim deed from the Web
In the purchase agreement and in an accompanying quitclaim deed, Woodward Plaza agreed to develop the property into residential housing.
By July 2016, the Root-Thalmans had filed a quitclaim deed purporting to transfer the victim's house to them.
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.
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.
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.
First Known Use of quitclaim deed
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.
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