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Quit-Claim Deed
A quit-claim deed transfers the ownership of a piece of real property from the seller to the buyer. If ownership is transferred with a quit-claim deed, the buyer receives no warranties and accepts the property subject to any liens, taxes, assessments, covenants or encumbrances that might affect the title. When a seller signs a quit-claim deed, they can only transfer the interest they hold. For example, if a husband and a wife own a home jointly and the husband signs a quit-claim deed transferring his interest in the property to their daughter, then the daughter now owns the home with her mother. If the mother also signs a quit-claim deed conveying her interest in the property to the daughter, then the daughter would be the sole owner of the home. Quit-claim deeds are typically used between family members or where ownership of a property is clearly defined.