PSI Virginia Real Estate Practice Exam

What is the primary function of a Quitclaim Deed?

1. To offer full protection against title defects

2. To convey all interests the grantor has in the property

3. To convey the property with warranties

4. To guarantee a clear title

The correct answer is: To convey all interests the grantor has in the property

The primary function of a Quitclaim Deed is to convey all interests that the grantor has in the property, without making any guarantees about the title. This type of deed is often used to transfer property between family members, resolve title issues, or when the property is being transferred as part of a divorce settlement. The essence of a Quitclaim Deed is that it serves as a simple and straightforward way to transfer the ownership rights that the grantor possesses at the time of the transfer. Unlike other forms of deeds, a Quitclaim Deed does not provide any warranties or assurances regarding the quality of the title or whether any title defects exist. Therefore, the recipient of a Quitclaim Deed must accept the property "as is," with whatever title issues may accompany it. This lack of warranty makes it different from other conveyance methods, which may include guarantees or protections against defected titles.