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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 existing interest in the property, which may be encumbered by liens that the buyer assumes. This presents significant risks for buyers, who may unknowingly inherit financial liabilities. Quitclaim deeds are commonly used in divorce scenarios, where one spouse conveys their interest to the other, or when parents transfer property to their children. They can also occur when a member of a limited liability company transfers their share of property.