Special Warranty Deed?
Morning!
I am considering buying a property that is zoned as Multifamily and Commercial Office (5 plex). The last deed transaction on file says it was a special deed from the previous owner to the current owner. I was wondering if anyone has experience buying a multifamily property that has a special warranty deed. I did some brief reading on the difference between a general warranty deed and special warranty deed. My understanding is that a general warranty deed is an unbroken chain of title transfers that have no claim against the title. While a special warranty deed only guarantees that the person that granted the special warranty deed guarantees that it has it no claims while they owned the property. I did also see a comment in a article I read that a special warranty deed is more common in commercial properties. Lastly, if the current property has a special warranty deed could I seek to get a general warranty deed from the current owner if I buy it?
Thanks in advance for any insights!
Jaime