Film glossary

Quitclaim

A quitclaim is a document in which someone gives up any claim they might have to a film underlying material or rights.

Quitclaims close off ambiguity in a chain of title, for example when a project changes hands, a development deal ends, or a co-writer departs. Alongside assignments, which transfer rights from one party to another, they help demonstrate that no earlier claim was left unresolved.

Buyers and their lawyers look specifically for gaps that a quitclaim or assignment would close. Gathering them as contributors come and go is far easier than chasing signatures years later.

Go deeper

Chain of Title guideChain of title is the unbroken record of legal ownership and rights for a film, from the original idea or underlying material through to the finished picture. It is the documented proof that a producer has the right to make and exploit the film. Buyers, financiers, and insurers require a clean chain of title before they will close.

Related terms

Keep reading the glossary

Chain of TitleChain of title is the documented, unbroken record of who owns the rights to a film and everything in it, from the underlying material through the finished picture.Option AgreementAn option agreement gives a producer the exclusive right to develop existing material for a set period before deciding whether to buy the rights outright.Errors and Omissions InsuranceErrors and omissions insurance, or E and O, protects a film against claims of copyright infringement, defamation, and similar issues.First PositionFirst position describes the party with the highest priority claim, whether a lender that recoups first or a rights holder whose interest ranks ahead of others.

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This definition is educational and does not provide financial, legal, or tax advice. Consult your own licensed advisors before acting. FILM.FUND is a software and workflow platform, not a broker-dealer. It never handles money, never holds securities, never takes a percentage of any raise or sale, and never predicts returns.