A deed is essentially a piece of paper that transfers interest in land from one person, called the grantor, to another, called the grantee. It's essentially a real estate contract. To be legally effective, it must be signed by the grantor and describe the land being conveyed. A quitclaim deed, sometimes erroneously referred to as a "quick claim deed" or "quit claim deed," is one type of deed. There are also warranty deeds — both a special warranty deed and a general warranty deed. The quitclaim deed transfers whatever interest the grantor has in the property to the grantee.