Definition of Quitclaim Deed:
Orange County Quitclaim Deed:
A deed that releases an individual’s interest in a property without stating the nature of the person's interest or rights, and with no warranties of ownership. While a quitclaim deed neither warrants nor professes that the grantor's claim is valid, it does prevent the grantor from later claiming they have an interest in the property.
Since a quitclaim deed makes no assurance that the grantor actually has an ownership interest in a property - but merely states that if they do, they release those ownership rights - when accepting a quitclaim deed the buyer of a property accepts the risks that the grantor of the deed may not have a valid ownership interest and/or that there may be additional ownership interests in the property. Title insurance companies normally won’t issue title insurance based on a quitclaim deed.