PSI Oklahoma Real Estate Complete Practice Test

A quitclaim deed is a type of deed that conveys the grantor's interest in a property without providing any warranties or guarantees about the title. This means that the grantor does not assure the grantee that the title is clear, nor do they guarantee that they actually have any valid interest in the property. The primary purpose of a quitclaim deed is to transfer whatever interest the grantor may have in the property, if any, without any certainty regarding the status of the title.

In contexts where title and ownership history can be ambiguous, quitclaim deeds are commonly used, such as in transferring property between family members or in situations of divorce. The absence of warranties means that the grantee assumes all risks associated with potential defects in the title or claims against the property. This distinguishes the quitclaim deed from other types of deeds, such as warranty deeds or special warranty deeds, which do involve certain guarantees from the grantor regarding the title.