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 Oregon, 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 to clear up title issues. The quitclaim deed conveys only what interest the grantor has at the time of the transfer, if any, and does not guarantee that the property is free of other claims or encumbrances. It does not provide the grantee with any protection against claims from third parties. 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 conveyance. In Oregon, quitclaim deeds must be in writing, signed by the grantor, and acknowledged before a notary public. They must also be recorded with the county recorder 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.