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 releases any interest or claim that the grantor has in a property but does not provide any guarantees of ownership or title. In this case, Northeast Trust Company is releasing its claim to the waterfront property, which is better suited for a quitclaim deed than a grant deed, sheriff's deed, or warranty deed.