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 Minnesota, 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, which could be full ownership, partial interest, or none at all. It does not guarantee that the title is clear of liens or encumbrances, nor does it guarantee that the grantor has valid ownership. If the grantor later acquires any interest in the property after the quitclaim deed has been executed, that interest is not transferred to the grantee, as the deed only affects the grantor's interest at the time of the signing. In Minnesota, quitclaim deeds must be in writing, signed by the grantor, and notarized. Additionally, they must be filed with the county recorder or registrar of titles in the county where the property is located to be effective against third parties.