What type of deed transfers real and potential interests in a property?

A quitclaim deed is used to transfer both real and potential interests in a property. This type of deed relinquishes any claims that the grantor has on the property without providing any guarantees about the extent of those claims. Hence, it allows the grantor to transfer whatever interest they may hold, whether it's a full ownership interest or a partial, contingent, or potentially nonexistent claim.

This is particularly useful in situations such as divorce settlements, where one spouse may transfer their interest in a property to the other without any assurance of the quality of that interest. Because a quitclaim deed does not guarantee that the grantor holds valid ownership or has the right to transfer it, it is considered a straightforward method to transfer property interests, emphasizing the relinquishment of any claims rather than providing protections for the grantee.

While a warranty deed provides guarantees and assurances about the title, a grant deed typically conveys the property while promising that the grantor has not encumbered the property in a way that would affect the grantee’s ownership. A transfer deed is less commonly referenced in real estate law and doesn't have a specific definition regarding the interests it conveys.