A document that can be used to both transfer ownership of property and to release a person's claim on a property

Out of all the deeds used to exchange ownership of a home, quitclaim deeds are used the least since they don't give buyers a firm assurance that the seller is the home's legal owner. Quitclaim deeds are usually used to clear up a variety of simple ownership (title) issues. For example, Mr. and Mrs. Stone buy a home together, but 10 years later Mrs. Stone wants to separate and wants nothing to do with the property. She just has to sign a quitclaim deed to release her claim on the property.

See: Cloud on title