Quit Claim Deed? How does it work?

**RE101** · 04-25-2010, 08:05 PM

When do you use this form? in what situation? is it to transfer the loan to someone else?

**Greg** · 04-26-2010, 12:55 PM

When you sign a quit claim deed you are just giving up any interest you may have in the property.

If you get a quitclaim deed make sure no one else has an interest in the property because the quit claim deed does not cancel their interest in the property unless they sign it.

**JAMikel** · 12-08-2010, 12:40 PM

A quit claim deed transfers property without any warranty. This type of deed is frequently used when conveyance is to or from relatives. Many investor deals are also done on quitclaim deeds, you must be careful before you accept this deed. There is no recourse for liens, encumbrances, taxes or anything else which may be unknown to you. Before accepting any deed make sure you have performed a thorough title search and a complete chain of title. If you don't know how to do this pay a title agent to generate an O&E "owners and encumbrance"report. Cost $100-$125 in most areas of Florida.

**jlandes** · 12-13-2010, 07:45 AM

Your best bet is to consult an real estate attorney. A quitclaim deed is the least enforceable type of deed because it does not claim that you have any interest in the property. Which means that it is not a definitive way of relinquishing your rights to the property.