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What is a Quitclaim Deed?

A quitclaim deed is a document transferring ownership of property from one party to another. It transfers the title of the property -- but only transfers what the seller actually owns.

If two people own a home jointly, one person could only transfer their half of the property via quitclaim. This type of transaction is commonly used when property is being transferred between family members not using traditional real estate channels.

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