A Quitclaim Deed:
|•||Provides the grantee with the least protection|
|•||Grantor makes no claims whatsoever|
|•||Grantor may not even own the property|
|•||Any interest that is owned is transferred by the quitclaim deed|
A quitclaim deed acts as a release of interest, if any, in real property. It is often used to clear a cloud on the title.
Wachovia Bank loaned money against the subject property in 1972. It was paid off in 1982 but never released in the courthouse. Wachovia may provide a quitclaim deed that basically says, "I don't know if I have any claim to this property but if I do, I release it."
A quitclaim transfers all interests, if any, to the grantee. If there are no interests, nothing is transferred. If the grantor has fee simple interest, then fee simple interest is transferred.