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It is often used to gift property. For this reason, quitclaim deeds in California are most often used for more informal transactions where the level of trust between parties is high or where both parties are familiar with the legal status of the property.
âQ: My elderly mother wants to transfer ownership of her home to me, her only child. My attorney drafted a quitclaim deed. What is a quitclaim deed? A: A quitclaim deed is a written document that transfers the title (ownership) of real property such as a home or piece of land. A quitclaim deed offers no warranties or guarantees that the owner has good title or ownership, but simply conveys whatever interest exists when the deed is executed (transferred) and delivered. Q: Must the transfer of title of real property via quitclaim deed involve an exchange of money? A: No. A transfer of an interest in real estate or land by a quitclaim deed does not have to involve the exchange of money.