If by "debts" you mean the mortgages on the property, the borrower remains liable for the mortgage debt AND the new owner takes the property subject to the debt. A successful foreclosing lender can take title to the property and also pursue the original borrower for any deficiency.
Also, there are very few instances where a quit claim deed is the appropriate instrument to use to transfer title to property. Typically some form of a warranty deed is preferred so as not to negate the warranties of title from any existing owner's title insurance policy.
The foregoing is specific to the law and procedure in Florida. This response does not constitute legal advice as the facts presented are limited and unstated facts will likely impact your particular situation. This response is intended for general education only and does not create an attorney-client relationship. Please schedule a consultation with a local attorney for more specific and detailed answers to your legal issues.
Answered on Aug 20th, 2012 at 12:09 PM