What type of deed transfers ownership without any guarantees or warranties?

A quitclaim deed is a legal instrument used to transfer an individual's interest in a property to another party without providing any guarantees or warranties regarding the title. This means that the grantor does not assure the grantee that the title to the property is clear or free of claims. Essentially, with a quitclaim deed, the grantor is relinquishing any interest they may have in the property, but does not vouch for the legitimacy of that interest.

This type of deed is often used among family members or in situations where the parties involved trust each other and are aware of any potential issues with the property title. The lack of warranties means that if there are any title defects or claims against the property, the grantee has no recourse against the grantor. This is in stark contrast to a warranty deed, which includes guarantees from the grantor about the title; a trustee deed, typically used in foreclosure transactions, which can also carry implications of warranties; and a deed in lieu of foreclosure, which transfers property ownership typically as a way to avoid foreclosure proceedings while often also containing certain warranty provisions.

Thus, the unique attribute of a quitclaim deed is its straightforward nature in transferring ownership without the assurances that come with other types of deeds, making