What Is a Quitclaim Deed? Definition & Use

If you've been considering changes to your home's title or want to transfer ownership to someone within your family, you may be thinking about using a quitclaim deed to do it. Read on to learn more about this type of real estate deed and when they're appropriate tools.

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If you use a quitclaim deed for a real estate transaction, be sure it's with someone you trust and for a property whose history you already know. Otherwise, you may find that you own nothing and have been bilked out of considerable funds.

Fortunately, a requirement for title insurance generally protects people who have to secure a mortgage to purchase a home since you can't usually get title insurance with a quitclaim deed alone.

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About the Author

Kristi Waterworth has been a contributing real estate and financial expert at The Motley Fool, covering real estate, investing, and personal finance topics, since 2020. Kristi has been interviewed by various TV media outlets and podcasts for her real estate investing expertise – from residential real estate to digital real estate and everything in between. Kristi’s journalist career spans over 25 years, and she has written about real estate investing, homeownership, and home construction specifically for the last decade. She was also previously a licensed Realtor and general building contractor before the Great Recession and housing market collapse. She holds a bachelor’s degree in American history from Columbia College in Missouri.

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