For what purpose is a quitclaim deed normally used?

A quitclaim deed is primarily used to clear the title of any potential issues or clouds that may exist. It is particularly useful in situations where the grantor wants to transfer their interest in a property without making any promises or warranties about the extent of that interest, or if there may be some doubts regarding ownership. This means that if there are any existing claims against the title or potential disputes, a quitclaim deed serves to eliminate those uncertainties from the record, allowing for a clearer title going forward.

While it can be used in transactions involving property gifts to family members or transferring ownership, those are not its main purposes. The quitclaim deed does not confer full rights to ownership as it does not guarantee clear title to the property; it merely transfers whatever interest the grantor may have. Additionally, it is not used for creating new mortgages on property. The primary function here centers around resolving title issues rather than transferring ownership under conditions that include warranties.