quitclaim deed

quitclaim deed definition - business

quitclaim deed

A deed that transfers an ownership interest in real property but makes no guarantee regarding title to the property. For example, a divorced spouse uses a quitclaim deed to transfer ownership of a home to the former partner. A quitclaim deed makes no guarantees regarding the possibility of other ownership interests in the asset.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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