# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Quitclaim Deed

Written By
Paul Tracy
Updated January 16, 2021

What is a Quitclaim Deed?

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

How Does a Quitclaim Deed Work?

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 Does a Quitclaim Deed Matter?

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.

Ask an Expert about Quitclaim Deed
At InvestingAnswers, all of our content is verified for accuracy by Paul Tracy and our team of certified financial experts. We pride ourselves on quality, research, and transparency, and we value your feedback. Below you'll find answers to some of the most common reader questions about Quitclaim Deed.
Be the first to ask a question

If you have a question about Quitclaim Deed, then please ask Paul.

Ask a question

Paul has been a respected figure in the financial markets for more than two decades. Prior to starting InvestingAnswers, Paul founded and managed one of the most influential investment research firms in America, with more than 2 million monthly readers.

If you have a question about Quitclaim Deed, then please ask Paul.

Ask a question Read more from Paul

Read this next

Paul Tracy - profile
Ask an Expert about Quitclaim Deed

By submitting this form you agree with our Privacy Policy

Share
close
Don't Know a Financial Term?
Search our library of 4,000+ terms