Quit Claim Deed

Being a newbie myself , I will try to answer your question to the best of my ability LOL . A quit claim deed is what happens (typically )in a diviorce situation . Were a couple has purchased a home and both names appear on the deed . Then when the divorce happens ,the party whom recieves the home will have the other party sign a quit claim deed . That will in effect remove any claim that they may have had from the deed . This done in place of having a new deed made for the sole owner .
You might want to check with your local laws or a lawyer . As each state varys . Hope this helps !!
Realestatechaser

It is used to transfer ownership often with a small or no fee or sale price attached. It is for use when changing ownership instead of a sale. As always, it's good to check with a title company or an attorney on the pros & cons.

Hope that helps a little...