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Attorney Robert Less discusses the risks of acquiring property through a quitclaim deed in his video tutorial. Unlike a warranty deed, a quitclaim deed only transfers the seller's existing interest in the property, which may be subject to liens, placing a significant risk on the buyer. Quitclaim deeds are commonly used in situations like divorce, where one spouse transfers their interest to the other, or when parents pass property to their children. They are also utilized when a member of a limited liability company assigns their share to another member. Viewers are encouraged to subscribe for more legal insights.