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Quitclaim deed. A quitclaim deed is a legal instrument which is used to transfer interest in real property. The entity transferring its interest is called the grantor, and when the quitclaim deed is properly completed and executed, it transfers any interest the grantor has in the property to a recipient, called the grantee.
Taxes. You have a responsibility to pay any taxes on the property that are due at the time you sign the quitclaim deed. Failure to do so can result in legal action against you, even though you no longer own the property.