What is a quitclaim deed commonly used for?

A quitclaim deed is primarily used to release or transfer an interest in title without any warranty or assurance that the title is clear or free of encumbrances. This type of deed is especially useful in situations where one party wants to relinquish their rights to a property, such as during a divorce, when settling an estate, or when adding or removing individuals from the title.

When a quitclaim deed is executed, it does not guarantee that the grantor actually has a valid interest in the property, nor does it ensure that the property is free of any liens or other claims. Instead, it simply conveys whatever interest the grantor may have, if any. This lack of warranties distinguishes quitclaim deeds from other types of deeds, such as warranty deeds, which do provide assurances about the title.

This approach is particularly beneficial in informal transactions or situations where the parties involved have a level of trust, as it streamlines the process of transferring interest without the need for extensive title research or guarantees. Therefore, the function of a quitclaim deed in releasing an interest in title makes it a valuable tool in real estate dealings, particularly in personal or familial contexts.