what is a quit claim deed?

Answer 1

You sign off, stating that you have no interest or stake in a particular piece of property that your name is connected to

Answer 2

From Wikipedia...

A quit claim deed is a legal document by which a person releases or "quits" any claim that they may have had to property. Of the different types of deeds, the quit-claim has the least assurance that the person receiving it will actually get any rights. The person who provides a quit-claim deed makes no warranty or representation that they actually own what they are "quitclaiming." The quit-claim merely provides that whatever they had or may have had, they are conveying it. Other types of deeds are judicial deeds, warranty deeds, deeds of trust, will deeds, and sheriff's deeds.

Quit Claim deeds do not release the person quitting claim from their obligations under a mortgage, although a quit claim deed can be a step in the right direction. In order to remove the party who quits claim from the mortgage, you must refinance the mortgage in the name of the party to whom title or interest in the property has been conveyed.

Answer 3

A quit claim deed is a legal document by which a person releases or "quits" any claim that they may have had to property. Of the different types of deeds, the quit-claim has the least assurance that the person receiving it will actually get any rights. The person who provides a quit-claim deed makes no warranty or representation that they actually own what they are "quitclaiming." The quit-claim merely provides that whatever they had or may have had, they are conveying it. Other types of deeds are judicial deeds, warranty deeds, deeds of trust, will deeds, and sheriff's deeds.
Quit Claim deeds do not release the person quitting claim from their obligations under a mortgage, although a quit claim deed can be a step in the right direction. In order to remove the party who quits claim from the mortgage, you must refinance the mortgage in the name of the party to whom title or interest in the property has been conveyed.

Answer 4

A quit claim deed is a legal document signed by a person who is releasing or "quitting" any claim that they have to property. If you own a house with another person and you sign a quit claim deed, you are relinquishing your rights to the house.

However, quit claim deeds do not release the person quitting claim from their obligations under a mortgage.

In order to remove the party who quits claim from the mortgage, the mortgage must be refinanced in the name of the person who will before the full owner of the property.

It would be a good idea to contact an attorney before signing or accepting a quit claim deed.

Answer 5

It is a deed that says you own the land and you with draw any and all claims against it.There was a problem with these a few years ago with con men filing quit claim deeds and selling land they didn't own in Florida.It is usually used for a quick divorce.

Answer 6

Quitclaim deeds transfer or "quit" any interest in real property. The grantor may not be in title at all, so the grantee cannot assume that the grantor has any real interest to convey. However, if the grantor were, say, married to the owner of the property, signing and recording a quitclaim deed in favor of the spouse would transfer any interest the grantor may have in the property to the spouse

Answer 7

You are releasing your interest in a property. Very important to note - this is the one type of deed that DOES NOT convey/transfer property, as some have stated in their replies.

Answer 8

I BELIEVE it is just a fast way of removing one persons name from a deed, used alot in divorces where one person is staying in the house

Answer 9

A conveyance which releases any interest the conveying party may have in a property without any warranty as to that partys claim.

Answer 10

It's a deed that someone gives you that doesn't say "you own this property" it says "I am turning over to you any rights I have to this property. Assuming that I do own this property, now you own it. Of course maybe I don't own it."