A Quitclaim Deed is a legal document used to transfer ownership of real estate from one party to another without any guarantees. This means the person transferring the property, known as the grantor, does not promise that they have clear title or ownership rights. Instead, they simply relinquish any claim they may have to the property. This type of deed is often used in situations like transferring property between family members or in divorce settlements. It is a quick and straightforward way to change ownership, but it does not provide the buyer with any protection against claims from other parties regarding the property.