Quit Claim Deeds

• A quit claim deed is a legal document that contains no warranties. The purchaser (grantee) accepts the title of the property as the seller held it.
  
  

The Effect of a Quit Claim Deed

• Because the quit claim deed has no warranties, it is possible that a grantor may not hold valid title on the property being sold. When a quit claim deed is used, the grantee cannot sue the grantor if there are any flaws in title.
  
  

When a Quit Claim Deed is Used

• A quit claim deed is not used for general conveyances of real estate. The quit claim deed is used for simple transactions including: (1) transferring property into a trust or life estate, (2) adding the name of a spouse after marriage and (3) removing the name of a spouse after divorce.
  
  

Disclaimer Deeds

• A spouse signs a disclaimer deed when the other spouse is purchasing property by himself. The property must be purchased solely with the one spouse's funds. In addition, the mortgage loan must contain only the purchasing spouse's name.
  
  

The Effect of a Disclaimer Deed

• After a disclaimer deed is signed, that spouse cannot claim interest in property owned by the other spouse independently. The spouse signing the disclaimer deed has no ownership rights to the property. Although the property is acquired during the marriage, once the disclaimer deed is signed, the property is considered separate property of the purchasing spouse and will not be divided amongst the two upon divorce.