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You will find this Glossary useful in understanding words or terms used in Real Estate transactions. However, there are some factors that may affect the following definitions:
1. Terms are defined as commonly understood in the mortgage and real estate industry. The same terms may have different meanings in other context.

2. The definitions are intentionally short and non-technical. They do not include all possible meanings that a term may acquire in legal use.

3. State laws may modify or change the meanings of certain terms defined.

Quitclaim Deed
A deed which transfers whatever interest the maker of the deed may have in the particular parcel of land. A quitclaim deed is often given to clear the title when the grantor's interest in a property is questionable. By accepting such a deed, the buyer assumes all the risks. Such a deed makes no warranties as to the title, but simply transfers to the buyer whatever interest the grantor has. (See Deed.)
 
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