A quit claim deed functions as a restricted assurance in the property sphere, enabling the conveyance of a person's interest in real estate to another. A warranty deed pledges or warrants that the owner owns the property free and clear of any outstanding liens, mortgages, or other encumbrances against it.The key difference between a warranty deed vs. Quitclaim deed is the level of protection offered. Quit Claim Deeds and Warranty Deeds are documents that are used to transfer real estate. Claim Deed is a very common means of transferring property from one person to another, but it is also the most basic and insecure means of doing so. In general, Arizona property will involve three types of deeds: 1) a warranty deed, 2) a special warranty deed, and 3) a quit claim deed. A warranty deed and a quitclaim deed are two different types of real estate deeds that individuals use in property transactions based on their legality. A quitclaim deed is the fastest and most affordable way to transfer ownership of property from a seller to a buyer. Quitclaim deeds are used to legally transfer real property rights, and often used for name changes, marriages, divorces, living trusts, and more.