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In this video, attorney Robert Less discusses the risks associated with purchasing property via a quitclaim deed. Unlike a warranty deed, a quitclaim deed only transfers the seller's interest, which may include existing liens the buyer then assumes. This can pose significant risks for buyers, as they may inherit unforeseen debts. Quitclaim deeds are often utilized in divorce settlements, where one spouse conveys property interest to another, or when parents transfer property to their children. They are also used in cases where a member of a limited liability company transfers their share of a property to another member.