New Mexico Warranty Deed - One Individual to Three Individuals
About this form
A Warranty Deed is a legal document in which one individual (the grantor) transfers property ownership to three individuals (the grantees). This form guarantees that the grantor holds clear title to the property and has the right to sell it. The grantees can take the property either as tenants in common or as joint tenants with the right of survivorship. This distinguishes it from other forms, such as quitclaim deeds, which offer no warranty regarding the title.
What’s included in this form
- Grantor's and grantees' names and addresses
- Legal description of the property being conveyed
- Statement of warranty by the grantor
- Specification of the type of ownership (tenants in common or joint tenants)
- Provisions for tax prorations between grantor and grantees
- Signatures and dates of the parties involved
Common use cases
This form should be used when an individual wants to transfer ownership of property to three individuals. It is essential in situations such as transferring family property, giving real estate as a gift, or completing a business transaction that involves multiple parties. This deed provides assurance to the grantees that the property title is legitimate and unencumbered.
Who should use this form
- Individuals looking to convey property to multiple parties
- Families wishing to ensure joint ownership among relatives
- Business partners involved in property investment
- Anyone requiring a formal deed to document a property transfer
Instructions for completing this form
- Identify the grantor and grantees by entering their full names and addresses.
- Provide a complete legal description of the property being transferred.
- Clearly state whether the grantees will own the property as tenants in common or joint tenants.
- Include any relevant details regarding property taxes, including how they will be prorated.
- Gather all required signatures, including dates, to validate the document.
Notarization guidance
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.
Typical mistakes to avoid
- Failing to accurately describe the property, which can lead to legal disputes.
- Not specifying the type of ownership clearly, which may affect future property rights.
- Neglecting to obtain all parties' signatures, rendering the deed invalid.
- Leaving blank fields that are crucial for the deed's execution.
Benefits of completing this form online
- Convenience of completing the form from any location at any time.
- Editability allows for quick adjustments before finalizing the document.
- Access to professionally drafted forms created by licensed attorneys, ensuring legal compliance.
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FAQ
The law doesn't forbid adding people to a deed on a home with an outstanding mortgage. Mortgage lenders are familiar and frequently work with deed changes and transfers.When you "deed" your home to someone, you've effectively transferred part ownership, which could activate the "due-on-sale" clause.
The New Mexico special warranty deed is a legal document used to convey real estate.A special warranty includes a guarantee from the grantor that there are no hidden interests or encumbrances on the property that arose while he or she owned the property.
Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and notarized, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.
Six people can be on title. It can cause a lot of problems when it comes time to sell though. If even one of the six won't sign, you have a problem. They can sign at different times and from different locations depending on the closing attorney or escrow company.
In most cases, the surviving owner or heir obtains the title to the home, the former owner's death certificate, a notarized affidavit of death, and a preliminary change of ownership report form. When all these are gathered, the transfer gets recorded, the fees are paid, and the county issues a new title deed.
Step 1 Write in the name of the grantor or seller. Step 2 Fill in the name and address of the grantee or buyer. Step 3 Specify the property information including county, lot, block and recording information. Step 4 Sign and date in the presence of a notary public.
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 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.
It is possible to be named on the title deed of a home without being on the mortgage. However, doing so assumes risks of ownership because the title is not free and clear of liens and possible other encumbrances.If a mortgage exists, it's best to work with the lender to make sure everyone on the title is protected.
