Monday's term was quitclaim deed, which is defined as:
n. a real property deed which transfers (conveys) only that interest in the property in which the grantor has title. Commonly used in transfers of title or interests in title, quitclaims are often made to family members, divorcing spouses, or in other transactions between people well-known to each other. Quitclaim deeds are also used to clear up questions of full title when a person has a possible but unknown interest in the property. Grant deeds and warranty deeds guarantee (warrant) that the grantor has full title to the property or the interest the deed states is being conveyed, but quitclaim deeds do not warrant good title.
Eli and Edward Wiest offered helpful defintions.
In his comment/guess, Edward asked: "In MA, the statutory quitclaim actually conforms to the old deeds providing warranties only against grantor's acts. And how does this compare to what was known as the bargain and sale deed used in NY (before I quit my claim to be practicing there, although I retain my licenses!)?"
Does anyone out there know the answer to Edward's query regarding New York law as to quitclaim deeds? Real estate has never been my area of practice, so unfortunately, I don't know that answer.
Today's term is:
As always, educated guesses are welcome, but dictionaries are not.