New Mexico Deed Restrictions
Description Who Can Remove Deed Restrictions
How to fill out New Mexico Deed Restrictions?
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New Mexico Deed Other Form Names
FAQ
Overall, New Mexico's statutory transfer on death deed is a flexible estate planning tool that allows owners of real property in the state to convey a potential future interest in real property to one or more beneficiaries.
Deed restrictions are usually put in place to protect the land values of properties in a residential neighborhood or to restrict certain businesses from moving into a commercial development. A deed restriction is created during the transfer of real property.
Typical deed restriction regulations include prohibitions on mobile homes, junk, commercial or business activities in a residential area, dwellings under a certain size, further dividing the lot involved, multi-family use, nuisances, farm animals, or large pole barns.
Deed restrictions are clauses on your home's deed that limit how you can use your property. A deed restriction might state that you cannot build a shed in your yard or that you cannot own a certain breed of dog. Deed restrictions can come from an HOA, the builder of the home or a local governing body.
Can a restrictive covenant be removed? For prospective land or property purchasers, it may be possible to speak to the vendor or 'successor in title' with a view to having any restriction lifted. In other words, you may be able to remove your restrictive covenant- but there are no guarantees.
A deed restriction can also be removed by a court order in some rare circumstances. If the deed restriction is discriminatory or illegal in other ways, a court will order it to be removed. In some situations, a judge can also find a deed restriction to be unfair and have it removed.
Express release: It may be possible to negotiate the release or variation of a restrictive covenant. Indemnity insurance: It is possible to obtain indemnity insurance to protect against the risk of a person with the benefit of a restrictive covenant seeking to enforce it.
Get a copy of the covenant detailing the deed restriction. You'll need to go to the courthouse or your county clerk's office for this. Read the covenant for details. Contact the governing body. Get consent. Take it to court.
Unless it's actively specified in the deed restriction, deed restrictions are permanent. In some cases, the deed restriction simply says that you have to be a member of the HOA, but the actual restrictions are in the bylaws. Deed restrictions pass on to anyone who buys the property, regardless of what they are.