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In this video, attorney Robert Less discusses the risks of purchasing property with a quitclaim deed. Unlike a warranty deed, which offers guarantees, a quitclaim deed only conveys the seller's interest, which may have existing liens attached. This poses a significant risk to the buyer, who assumes these potential liabilities. Quitclaim deeds are often used in divorce situations, where one spouse transfers their interest to the other, or when a parent passes property to their children. They are also applicable when a member of a limited liability company transfers their share of property to another member. Overall, caution is advised when using quitclaim deeds in property transactions.