What is a quitclaim deed primarily used for?

A quitclaim deed is primarily used to transfer interest in a property without providing any guarantees regarding the title or ownership. This means that the person transferring the property (the grantor) is only conveying whatever interest they may have in the property, if any, to the recipient (the grantee). It does not assure the grantee of clear title, nor does it protect against any claims or liabilities that may be tied to the property. This makes quitclaim deeds particularly useful in situations such as transferring property between family members, clearing up title issues, or when a property owner wants to relinquish their rights without needing to dive into the complexities of traditional title assurances.

The other choices center around aspects not associated with a quitclaim deed. Guaranteeing ownership and formalizing a loan involve more complex processes and documentation than a quitclaim deed provides. Meanwhile, establishing a lease agreement is a completely different legal action that typically involves rental contracts. Thus, the quitclaim deed’s simplicity and lack of guarantees are central to its primary use, emphasizing its role in straightforward property interest transfers rather than formal ownership transfers or leasing arrangements.