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In this video, attorney Robert Less discusses the risks of purchasing property via a quitclaim deed. Unlike a warranty deed, a quitclaim deed transfers only the seller's interest, potentially leaving the buyer liable for existing liens on the property. This method is often used in divorce settlements, where one spouse conveys their interest to the other, or when parents transfer property to their children. Additionally, it's commonly applied when members of a limited liability company transfer their shares. The video warns that buyers should be cautious when accepting property through a quitclaim deed due to the associated risks.