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 Wisconsin, 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. 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 encumbrances. This means that if the grantor does not actually own the property, or if there are liens or other claims against it, the grantee receives no protection and may not actually obtain any interest in the property. Additionally, if the grantor later acquires an interest in the property, that interest is not passed to the grantee because it was not owned by the grantor at the time the quitclaim deed was executed. In Wisconsin, quitclaim deeds must be signed by the grantor, notarized, and then recorded with the Register of Deeds in the county where the property is located to be effective.