What is Quitclaim Deed?

Quitclaim Deed — A quitclaim deed is a deed by which a person grants to another all of his interest in some real property by agreeing to stop making claims on the property. This is a dangerous deed, in a sense, because there is no warranty of what actual title the grantee is getting. If the grantor's claim to the property is worthless, so is his quitclaim.