What is a quit claim?

A quitclaim deed is one in which the seller transfers to you whatever title seller has to the property, but does not warrant or guaranty that he has title or what "quality" of title he has.  If he really owned free and clear title, you get free and clear title.  If he didn't hold the title at all, then you get nothing from his quitclaim deed.  So, there is risk attached to a quitclaim deed.  The preferred deed in NV is a "grant, bargain and sale deed" because then the seller warrants (guarantees) that he holds title.  But there are nonetheless numerous situations in which quitclaim deeds make sense and are OK to do, just depends on the circumstances and how much reliable information you have about the property (e.g., a title report).