A limited warranty deed warrants the title only for any problems that occurred during the seller's ownership. It does not warrant the title for anything that happened prior to the seller's ownership of the property. A buyer can sue the seller under a general warranty deed for title defects that occurred during prior ownerships but not under a limited warranty deed.
A limited warranty deed is a deed that is warranted for only the time the seller has owned the property. Normally this is a bank or something like that that has taken over the deed and is only giving notice that the deed is free of encumbrances for only the period of time the grantor owned it. When you buy it your lender will require a title search that should show any problems before you close on it.