New Mexico Warranty Deed from Individual to Individual
What is this form?
The Warranty Deed from Individual to Individual is a legal document that allows one individual, known as the Grantor, to transfer property ownership to another individual, known as the Grantee. This deed not only conveys the property but also guarantees that the Grantor holds clear and marketable title to the property, ensuring it is free from any encumbrances, except those specified. This form is distinct from other types of deeds, such as quitclaim deeds, as it includes formal warranties regarding the title's condition.
Form components explained
- Identification of the Grantor and Grantee
- Description of the property being transferred
- Warranties and covenants made by the Grantor regarding the title
- Provisions for property taxes between Grantor and Grantee
- Indication of whether the property is part of the Grantor's homestead
- Signature and date for validity
When this form is needed
This warranty deed should be used when an individual wants to legally transfer real estate to another individual. Common situations include selling a home, transferring inherited property, or gifting property to a family member or friend. It is essential to use this form to ensure that the transfer is legally enforceable and that the Grantee receives full ownership rights.
Intended users of this form
- Individuals selling or gifting real estate to another individual
- Heirs wishing to transfer ownership of inherited property
- Anyone involved in real estate transactions requiring formal ownership transfer
- Married couples transferring property between themselves
How to prepare this document
- Identify the parties involved: the Grantor and Grantee.
- Clearly describe the property being transferred, including any reservations (e.g., mineral rights).
- Specify the tax arrangement for the current tax year.
- Indicate whether the property is part of the Grantor's homestead.
- Have the Grantor sign and date the document, ensuring it is done before a notary if required.
Does this document require notarization?
This form needs to be notarized to ensure legal validity. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to provide a complete and accurate property description.
- Not specifying the tax arrangements for the property transfer.
- Omitting necessary signatures or notary acknowledgments.
- Neglecting to confirm whether the property is part of the homestead.
Advantages of online completion
- Convenience of downloading and completing at your own pace.
- Access to forms drafted by licensed attorneys ensures legal compliance.
- Editable format allows for easy customization based on your needs.
- Secure and reliable way to complete legal transactions from home.
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FAQ
A warranty deed guarantees that: The grantor is the rightful owner of the property and has the legal right to transfer the title.The title would withstand third-party claims to ownership of the property. The grantor will do anything to ensure the grantee's title to the property.
A personal representative deed and warranty deed are the same only in that they both convey ownership of land. The types of title assurance that the different deeds provide to the new owner are very different.
The mortgage company usually prepares this deed as part of the loan package and delivers it to the title company for you to sign at closing. The title company is commonly the trustee to the deed and holds legal title to the property until the loan gets fully repaid.
It will not protect against title issues that arose prior to the time the seller took occupancy. Consequently, it offers less protection to buyers, and more protection to sellers, than a general warranty deed, which is the most common option for selling or buying a property.
A special warranty deed to real estate offers protection to the buyer through the seller's guarantee that the title has been free and clear of encumbrances during their ownership of the property. It does not guarantee clear title beyond their ownership.
After your Warranty Deed has been recorded at the County Clerk's Office, it can be sent to the grantee. However, any person or corporation can be designated as the recipient of the recorded Warranty Deed.
The original deed is returned to the owner of the property from the office of the recorder after proper entry. The office of the Recorder of Deeds maintains a set of indexes about each deed recorded, for an easy search. Almost all states have a grantor-grantee index including a reference to all documents recorded.
Typically, the lender will provide you with a copy of the deed of trust after the closing. The original warranty deeds are often mailed to the grantee after they are recorded. These are your original copies and should be kept in a safe place, such as a fireproof lockbox or a safe deposit box at a financial institution.
Special warranties allow the transfer of property title between seller and buyer. The purchase of title insurance can mitigate the risk of prior claims to the special warranty deed.
