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What is a Quitclaim Deed

A term used to describe the act of transferring the ownership of a home from the owner to another party, often a family member or a spouse. However, a quitclaim deed gives no guarantee that the title of home is clear of liens. Once this deed is issued by the homeowner (the grantor), the recipient (the grantee) assumes legal and financial responsibility for the property and any liens. For example, if a couple is divorcing and owns a home together, the husband could issue a quitclaim deed to transfer ownership of the home to his ex-wife.