1. (1) Quitclaim deeds may be in the following form:

   _____, Grantor, releases and quitclaims to _____, Grantee, all right, title and interest in and to the following described real property: (Describe the property conveyed.)

   (Following description of property, here insert statement required under ORS 93.040 (1).)

   The true consideration for this conveyance is $_____. (Here comply with the requirements of ORS 93.030.)

   Dated this _____ day of _____, 2___.

2. (2) A deed in the form of subsection (1) of this section shall have the effect of conveying whatever title or interest, legal or equitable, the grantor may have in the described property at the date of the deed but shall not transfer any title or interest which the grantor may thereafter obtain nor shall it operate as an estoppel.
3. (3) A grantee taking title by way of a quitclaim deed shall not, merely because of receipt of title by or through such a deed, be denied the status of a good faith purchaser for value.

[1973 c.194 §4; 1999 c.214 §4]