Convert To Pdf Legal New Mexico Real Estate Forms For Free

RECs are the most common seller financing instrument used in New Mexico. With a REC, the seller transfers equitable interest in the property to the buyer upon execution of the REC, while the seller retains legal title to the property until the buyer satisfies all conditions of the REC.

A New Mexico quit claim deed is a legal form that can be used to convey real property, or land and buildings, from a seller (grantor) to a buyer (grantee). A quitclaim is different from a warranty deed because it comes with no guarantee. Instead, the grantor is only selling whatever interest he may own in the property.

A New Mexico warranty deed must contain language that identifies the document as a warranty deed that transfers property with a complete warranty. New Mexico law assumes that a deed is a warranty deed if it uses the model warranty deed form and says that the grantor ?grants? the property ?with warranty covenants.?

The grantee beneficiary takes a certified copy of the owner's death certificate to the county clerk's office to be recorded. This completes the trans- fer. Title is transferred without having to open a probate proceeding.

A New Mexico deed is used to legally convey real estate between parties in New Mexico. In order to transfer property, with a deed, you will need the names of the seller, or grantor, the names of the buyer, or grantee, the legal description of the property and an acknowledgment by a notary public.

The law in New Mexico allows an owner of real property (land or house) to transfer that property to another person (grantee beneficiary) through the use of a Transfer on Death Deed (TODD).