NCEES Principles and Practice of Surveying Practice Exam

What does a Quit Claim Deed do?

1. Transfers full ownership of the property.

2. Releases any interest the grantor may have at the time of conveyance.

3. Requires a title search to verify ownership.

4. Includes warranties against future claims.

The correct answer is: Releases any interest the grantor may have at the time of conveyance.

A Quit Claim Deed serves a specific purpose in property law. It effectively transfers whatever interest the grantor holds in a property at the time of the conveyance, without any guarantee or warranty of that interest. This means that if the grantor has an ownership interest in the property, that interest is transferred to the grantee, but if the grantor does not have any legitimate claim to the property, the grantee receives nothing. This type of deed is often used in situations where the parties know each other well, such as family transactions or in cases of divorce, where one party may wish to relinquish any claim to the property held jointly with another party. Because of the nature of a Quit Claim Deed, it eliminates any future claims the grantor may have to the property as of the time of conveyance, but it does not guarantee clear title or ownership against other claims that may exist. The other options refer to concepts associated with different types of deeds. For example, transferring full ownership pertains more to a Warranty Deed, which also provides assurances against future claims, while the requirement for a title search and warranties are typical of Warranty Deeds as well. In summary, the essence of a Quit Claim Deed is its limited nature