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As explained by Wikipedia:

"A quitclaim deed is a term used to describe a document by which a person (the "grantor") disclaims any interest the grantor may have in a piece of real property and passes that claim to another person (the grantee). A quitclaim deed neither warrants nor professes that the grantor's claim is valid. By contrast, the deeds normally used for real estate sales (called grant deeds or warranty deeds, depending on the jurisdiction) contain guarantees from the grantor to the grantee that the title is clear. The exact nature of the warranties varies from jurisdiction to jurisdiction. Quitclaim deeds are sometimes used for transfers between family members, gifts, placing personal property into a business entity, or to eliminate clouds on title, or in other special or unusual circumstances."

At a recent New Hampshire foreclosure sale (April, 2009), a party tried to purchase a property "by foreclosure deed".

So what's that?

The "Memorandum of Sale by Foreclosure" signed by the Buyer at the auction contained the following statement:

"The Buyer acknowledges that no representations or warranties of any kind whatsoever, other than those set forth herein, have been made by or on behalf of the Mortgagee and that the premises are conveyed in 'as is' condition."

Therefore, it appears that the "foreclosure deed" was to be some type of quitclaim deed because the Buyer was to get only what interests and rights the mortgagee had in the property being foreclosed, if any.

This Buyer is now (over 4 months later) trying to get his $5000 deposit back since, among other problems, it isn't even certain that the mortgagee had legal standing to foreclose in the first place.

Nevertheless, as of this writing, the attorney for the mortgagee has failed to return the deposit or even tell the Buyer who has it.

Apparently, the attorney felt that, if the Buyer was trusting enough to sign the "take-it-or-leave-it" memorandum of sale, the Buyer deserves to loose his $5000.

And he probably will.

- Ed Smith