A quitclaim deed is a real estate document that legally transfers interest in property from one person (the grantor) to another (the grantee). A quitclaim deed is considered a fast, simple way to do a property transfer; and as such, quitclaim deeds do not include any warranties on the property.
A quitclaim deed is often used in a situation such as a divorce, when two people own a home or piece of property together, and one of them wishes to transfer their interest in the property to the other rapidly and efficiently. A quitclaim deed is also commonly used in wills and living trusts, or in situations where a seller may have previously retained a partial interest in the property and now wishes to transfer the remainder to the new owner.
A quitclaim deed, in general, is simple to do and requires much less paperwork and ceremony than a typical property transfer. Because of this, quitclaim deeds do need to be handled properly to ensure their legality. Rules vary by state, so the requirements for a legal quitclaim deed are not set in stone, in most cases they require notarization and filing with the local land records office. Check with your local county recorder's office for details on how to ensure the validity of a quitclaim deed in your area.
You should also strongly consider speaking to an attorney before preparing or signing any quitclaim deed. Not only can an attorney assist you in making sure you comply with the drafting requirements to make a quitclaim deed legally valid, but a qualified real estate lawyer can also help ensure your rights are protected with regard to any outstanding mortgages owed on the property or any claims that may be attached to the property.