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 Florida, 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 other situations where the parties are well-acquainted and the grantee is willing to accept the risk of potential title defects. The quitclaim deed will transfer whatever interest the grantor has at the time of the transfer, which could be full ownership, partial interest, or none at all if the grantor does not actually hold title to the property. It is important to note that a quitclaim deed does not affect any liens or encumbrances that may exist on the property; those remain and would need to be resolved separately. Additionally, if the grantor later acquires an interest in the property after having executed a quitclaim deed, that interest is not transferred to the grantee, as the deed only applies to the grantor's interest at the time of the execution. In Florida, quitclaim deeds must be signed by the grantor, witnessed by two individuals, and notarized to be valid. They must also be recorded with the county clerk in the county where the property is located to provide notice of the transfer to subsequent purchasers and to establish the priority of the grantee's interest.