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Brad Lynch, known as your mortgage guy for life, explains the concept of a quitclaim deed, often mistakenly referred to as a "quick claim deed." He emphasizes that the term "quitclaim deed" correctly describes the transfer of the grantor's interest in real estate. This type of deed is commonly used in situations like divorce, where one spouse can transfer their ownership interest in a property to the other. Lynch invites viewers to check his online presence for information on refinancing, purchases, and divorce lending by searching the hashtag #YMGFL.