A quit claim deed is a document wherein the grantor transfers whatever interest he has in
real property, like a house. The person giving the property is referred to as the grantor
and the person receiving the property is the grantee. To be valid, a quit claim deed
should include a legal description, county name and address of where property is located,
consideration (people usually don’t put the actually selling price), signature of a notary public, and the grantor’s signature.
The most important thing to know about a quit claim deed is that it doesn’t make any
warranties or promises about the title to the property. All the document does is convey
the seller’s interest in the property to the buyer subject to any liens of record. This is the
complete opposite of a warranty deed wherein the grantor transfers title to the property
with a guarantee of clear title.
So, if you are buying a piece of property from someone other than a family member (and
maybe even then) a warranty deed should be obtained from the seller so that you have a
guarantee that the property has clear title and is free of liens.