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A quitclaim deed provides the grantee with a transfer of interest in a property without any warranties or guarantees. This means that the grantor is relinquishing whatever interest they may have in the property, but not guaranteeing that they actually own the title or that it is free of any claims or liens. The grantee essentially receives whatever rights the grantor has, if any, without any assurance of those rights being valid or marketable.

This type of deed is often used in situations where the parties know each other and trust is established, such as between family members or in divorce settlements. It’s important to understand that the absence of warranties means the grantee assumes the risk of any issues that may arise with the title in the future. Therefore, the key aspect of a quitclaim deed is its lack of assurances surrounding ownership or quality of title, which is why it accurately corresponds to the notion of transferring interest without assurances.