A quitclaim deed—also known as a quitclaim—is a deed that transfers whatever interest the grantor (purported owner) has in a piece of real property to the grantee (buyer)—but does not represent or warrant that the grantor’s title (ownership) is valid (that the grantor has any ownership interest in it) or free from liens or encumbrances.
A quitclaim deed only purports to convey the grantor’s present interest in the land (if any) and does not purport to convey the land itself. Thus, if the grantor were to acquire an interest in the land after executing (signing) a quitclaim deed, the grantor would retain that interest, as the grantor did not have it at the time the grantor executed the quitclaim deed.
In Delaware, a quitclaim deed is a legal instrument used to transfer a grantor's rights, title, and interest in a property to a grantee, without any warranties of title. It is often used among family members or in situations where the property is being transferred without a traditional sale, such as in a divorce settlement. The quitclaim deed will transfer whatever interest the grantor has at the time of the transfer, but it does not guarantee that the interest is valid or that the property is free from other claims or liens. It is important to note that if the grantor obtains any interest in the property after the quitclaim deed is executed, that interest is not transferred to the grantee, as the deed only applies to the grantor's interest at the time of the transfer. In Delaware, quitclaim deeds must be in writing, signed by the grantor, and notarized. Additionally, the deed must be recorded with the county recorder's office in the county where the property is located to provide notice of the transfer to subsequent purchasers and to maintain a clear chain of title.