Glossary of Bankruptcy

QUIT CLAIM

quit claim: translation

quit claim
A deed releasing interest in real property. Sometimes, when a Trustee has real property vested in him pursuant to the bankruptcy and there is no equity in that property, he may quit claim it to the mortgage holder, thereby saving the mortgage holder time and expense. The Trustee should charge the mortgage holder for executing this deed. (Dictionary of Canadian Bankruptcy Terms)

United Glossary of Bankruptcy Terms2012.


  1. quit claim—Quit claim translationA lords release of all claims he may have had over a villein in return for which he received a sum of money or quit rent as compensation for this lo...Dictionary of Medieval Terms and Phrases