- Three broad classes of deeds exist to transfer real estate. A grant deed transfers ownership while containing a promise that the transferring owner has not already transferred the ownership to someone else. A warranty deed transfers ownership and contains any number of promises from the transferrer to the transferree that protect the recipient of the land's interests. A quitclaim simply gives whatever the previous owner has to the new owner.
- In a quitclaim deed, the quitclaimer gives up whatever interest he has in the property being deeded to the recipient of the deed. If the quitclaimer owns the property, he has given it up. On the other hand, though, you could quitclaim the Brooklyn Bridge to a friend. You'd be giving him all that you own of the bridge, which happens to be nothing. With this in mind, quitclaim deeds are typically used to clear clouds on title. In other words, if there is someone who might have some interest in a property but should not, having him quitclaim his interest can remove him from the chain of title.
- The main basis for the use of a quitclaim deed is with family farms that have been owned for generations. Over time, different family members may have gotten an interest in the property and some of them may have lost that interest. Quitclaim deeds allow everyone who might be on title who should not be on title to remove their names from the property's ownership, enabling it to be sold or transferred to its next owner.
- When used for their intended purpose of simply removing people from the title of a piece of farm property, quitclaim deeds are useful tools. Unfortunately, though, many people attempt to sell property and give the buyer a quitclaim deed. If you are offered a piece of farmland to be transferred via quitclaim deed, be extremely careful. The purported seller may not own the property, and may be using a quitclaim instead of a grant or warranty deed as part of a scam.
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