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In this video, attorney Robert Less discusses the risks associated with purchasing property through a quitclaim deed. Unlike a warranty deed, a quitclaim deed transfers only the seller’s existing interest in the property, which may be subject to liens that the buyer then assumes. This can pose significant risks for buyers. Quitclaim deeds are commonly used in divorce settlements, where one spouse transfers property interest to the other, or when parents transfer property to their children. They are also utilized when members of a limited liability company transfer their shares of property to others. Viewers are encouraged to subscribe for more legal insights.