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In this video, attorney Robert Less discusses the risks of acquiring property through a quitclaim deed. Unlike a warranty deed, a quitclaim deed only transfers the interest that the seller possesses, which may come with existing liens that the buyer inherits. This creates a significant risk for buyers, as they assume any potential financial burdens on the property. Quitclaim deeds are often utilized in situations like divorce, where one spouse transfers their interest to the other, or when parents pass property to their children. Additionally, they may be used when a member of a limited liability company transfers their share of property to another member.