Short form warranty deed is a legal document commonly used in New Mexico to convey ownership of real property. It provides assurance to the buyer that the seller has clear and unencumbered title to the property and will defend against any claims that may arise in the future. Short form warranty deeds are often preferred for their simplicity and brevity. In New Mexico, there are different types of short form warranty deeds that can be used depending on the specific circumstances: 1. General Warranty Deed: This type of short form warranty deed offers the highest level of protection to the buyer. It guarantees that the seller (granter) holds clear title to the property and will defend it against any claims, even if they originated prior to the seller's ownership. 2. Special Warranty Deed: A special warranty deed also provides assurances to the buyer but with limitations. The seller only guarantees against any title defects or claims that may arise during their ownership period, excluding any issues from previous owners. 3. Quitclaim Deed: Although not technically a warranty deed, a quitclaim deed is often used in situations where the seller doesn't want to make any warranties or guarantees about the title. It simply transfers whatever interest the seller may have in the property to the buyer without any promises regarding clear title. 4. Correction Deed: This type of short form warranty deed is used when there are errors or omissions in a previously recorded deed. It is used to correct any mistakes and reaffirm the intention of the original transaction. When preparing a short form warranty deed in New Mexico, it is crucial to include key information such as the full legal description of the property, the names of the granter (seller) and the grantee (buyer), the consideration or purchase price, and the notarized signatures of both parties. In summary, a short form warranty deed in New Mexico is a legal document used to transfer ownership of real property with guarantees from the seller regarding the property's clear title. It offers different levels of protection, such as general warranty, special warranty, or no warranty through a quitclaim deed. Understanding the different types and their implications is essential when engaging in real estate transactions in New Mexico.
Short Form Warranty Deed New Mexico
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FAQ
To record a document such as a deed, mortgage, water rights, lien or other you must: Bring the document in person to the Clerks Office or send by mail: Documents must be original (all required seals and signatures) Notary Information must be complete signature, date, seal, and expiration date is required.
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.?
A lawful special warranty deed includes the grantor's full name, mailing address, and marital status, and the grantee's full name, mailing address, marital status, and vesting. Vesting describes how the grantee holds title to the property. Generally, real property is owned in either sole ownership or in co-ownership.
A deed transferring New Mexico real estate must be filed with the county clerk for the county where the real estate is located. New Mexico charges a flat fee of $25.00, payable to the county clerk, to record a deed.
New Mexico quitclaim deed form. A special warranty deed provides a buyer less protection than a warranty deed and places less risk on the seller.