Manhattan Developers, Inc., pays Northeast Trust Company to release its claim to a strip of waterfront property. Northeast gives Manhattan a deed that conveys only whatever interest Northeast has in the strip. This deed is

Question

Manhattan Developers, Inc., pays Northeast Trust Company to release its claim to a strip of waterfront property. Northeast gives Manhattan a deed that conveys only whatever interest Northeast has in the strip. This deed is​

Quizplus · Accepted Answer

A quitclaim deed conveys whatever interest the grantor has in the property, without any warranty or guarantee as to the extent or validity of that interest. In this scenario, Northeast Trust Company is conveying whatever interest it has in the waterfront strip, but is not providing any warranty as to the quality or extent of that interest.