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What does quitclaim mean?

Looking for the meaning or definition of the word quitclaim? Here's what it means.

Verb
  1. (transitive) To relinquish or release (a claim, title etc.); to transfer (an interest in property). [from 14th c.]
Noun
  1. A renunciation of claims.
  2. A deed that is a renunciation of claims to a parcel of real property and a transfer of one's claims to another.
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