What is a Delaware Quitclaim Deed?

Quit Claim deed is a legal document that helps to transfer your share of interest in the property (house, land, mobile home, etc) to another individual. The person giving away the interest is the grantor while the one who accepts it is the grantee. While the interest is transferred, no warranty is made on the rights which others may claim from the property.

The deed implies that the grantor simply transfers his interest but does not guarantee whether the grantor actually has ownership rights on the property. Moreover, the deed does not guarantee that the property is free of debt.

When Should You Use a Quit Claim Deed?

The deed is commonly used in the following situations.

• In a divorce, a married couple can transfer ownership of the property to one spouse.
• A spouse may add or remove the other spouse's name to/from the property title after marriage.
• While a property is purchased, at closing the interest is transferred from the seller to the buyer through this deed.
• If a property is sold off to the new owner and the title shows the old owner as having certain rights, the previous owner should sign a quit claim and transfer all his rights to the new owner.
• A person planning for an estate or a living trust uses the deed to transfer ownership of the property into a trust.