Quit Claim Deed, Quit Claim Deed

Looking for Quitclaim Deed?

If a husband and wife own a home and divorce, and the wife acquires the home in the decree, the husband would enact a quit claim deed to eliminate interest in the property. The husband's name would remain on the loan and he would be financially responsible or liable if the wife were to default on the property. However, he would have no interest in the propertyif the wife sold the property, the husband would have no claim to money gained from the sale. Another example of a circumstance where a quitclaim may be used is where one spouse is disclaiming any interest in property that the other spouse owns.

Source: Wikipedia > Quitclaim Deed