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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 only transfers the interest the seller possesses, which may be encumbered by liens that the buyer then assumes. This poses significant risks to the buyer since they may inherit unexpected liabilities. Quitclaim deeds are commonly used in divorce situations, where one spouse transfers their interest to the other, and in cases where parents transfer property to their children. They can also be used when a member of a limited liability company transfers their share of property to another member.