What is the primary purpose of a quitclaim deed?

The primary purpose of a quitclaim deed is to transfer interest in a property without providing any guarantees or warranties regarding the title. This means that the person transferring the property, or grantor, does not affirm that they have a valid claim to the property or that the title is free of liens or encumbrances.

Quitclaim deeds are often used in situations where the parties know and trust each other, such as transferring property between family members, resolving title issues, or when one spouse conveys their interest in a property to another in a divorce. The lack of guarantees makes quitclaim deeds a more streamlined option, but it also means that the receiving party should be cautious, as they could inherit any potential title issues.

In contrast, other options such as guaranteeing the title or appraising property values do not accurately reflect the nature of a quitclaim deed. A quitclaim deed specifically does not ensure the security of the title, nor is it typically used in the context of appraising property values or completing transactions through escrow.