A quitclaim deed is a legal instrument that is used to transfer interest in real property. In real estate, the grantee is the one taking title to a purchased property. What Is a Real Estate Quit Claim Deed?. A quitclaim deed is a document that is used to transfer ownership of real property from one party to another. The quitclaim deed only operates to convey to the seller's interest in the property to the buyer. The deed simply transfers ownership without making any warranties.