This form is a Warranty Deed where the grantors are two individuals and the grantees are two individuals. Grantors convey and warrant the described property to the grantees. The grantees will hold the property as tenants in common or as joint tenants with the right of survivorship. This deed complies with all state laws.
New Mexico Warranty Deed - Two Individuals to Two Individuals
Category:
State:
New Mexico
Control #:
NM-023-78
Format:
Word;
Rich Text
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FAQ
It's important to note that a warranty deed does not actually prove the grantor has ownership (a title search is the best way to prove that), but it is a promise by the grantor that they are transferring ownership and if it turns out they don't actually own the property, the grantor will be responsible for compensating
The two parties involved in a warranty deed are the seller or owner, also known as the grantor, and the buyer or the grantee. Either party can be an individual or a business, and are often strangers to each other.
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.
DEED: A written instrument by which one party, the Grantor, conveys the title of ownership in property to another party, the Grantee. A Warranty Deed contains promises, called covenants, that the Grantor makes to the Grantee.It is even possible that the Grantor does not have any title or ownership interest at all!