Special Warranty Deed?

[Kel S]

Can someone explain this term and what it means? My spouse seem to think that it's risky to accept this type of Deed because it could mean that there may be prior liens on a property prior to the Bank owning it. Is that the case or are we ok with this type of deed?

Would getting title insurance cover any possible prior issues with the title/deed? If so, who normally pays for that? The seller (bank) or us? How much is it usually?