Escrow & Title
In Colorado, a 'special warranty deed' differs from a general warranty deed in that it:
AProvides warranty only for claims arising during the grantor's period of ownership✓ Correct
BProvides warranty against all title defects throughout history
CProvides no warranty at all
DIs only used for commercial property transfers
Explanation
A special warranty deed only warrants title against defects arising during the grantor's period of ownership, not against defects that arose before the grantor took title. It is less protective than a general warranty deed.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
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