They were married following their arrival here and took a quitclaim on a homestead which in time became their property. New Word List Word List. Save This Word! See synonyms for quitclaim on Thesaurus. Quitclaim deeds make no such promises, guarantees or warranties. A quitclaim deed does exactly what its name suggests: It quits or releases any claim you have to a piece of real estate.
In general, quitclaim deeds are useful when it comes to transferring property between family members who trust one another. They also come in handy when deeding a property as a gift to a person or estate. They can even be used to give over to a business entity the property owned by a person.
In some cases, quitclaim deeds are also used to actually eliminate any clouds or encumbrances that can end up on a title. In California, quit claims are legally binding as soon as the grantor, or current owner, signs them. You have to record the quitclaim with the city or county recorder, for example, by visiting the San Francisco office of the assessor-recorder as City Hall.
Quitclaim deeds are usually common in divorces where one party receives jointly owned property as part of the settlement. A husband, for example, who's giving over a property would enact a deed completely eliminating his interest.
The wife then assumes complete responsibility for meeting any obligations attached to that property. Of course, codicils or other agreements agreed to by both parties can be drafted that address just who'll actually handle such responsibilities.
Time Traveler for quitclaim The first known use of quitclaim was in the 14th century See more words from the same century. Statistics for quitclaim Look-up Popularity. Style: MLA. Legal Definition of quitclaim. More from Merriam-Webster on quitclaim Thesaurus: All synonyms and antonyms for quitclaim.
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