Quitclaim Deed Definition

A deed that transfers whatever ownership interest the transferor has in a particular property. The deed does not guarantee anything about what is being transferred, however. For example, a divorcing husband might quitclaim his interest in certain real estate to his former wife, officially giving up any legal interest he may have in the property. Quitclaim deeds are used primarily among family members or others familiar with the property and each other. Compare: grant deed, warranty deed