A deed is an instrument by which an owner (the grantor) transfers an interest in land to a new owner (the grantee). No consideration is required to make the deed effective. The deed is necessary to transfer title to land even if it is a gift. It has no effect, and title does not pass until the deed has been delivered. The recording of the deed is not required to make the deed effective to pass title between the buyer and the seller. However, recording is necessary so that the public will know that the buyer is the present owner. Recording constitutes "notice to the world" of the transfer in title.
The grantor is the person selling the property. The grantee is the person buying the property. A grant deed is a deed containing an implied warranty that there are no encumbrances on the property not described in the deed and that the person transferring the property actually owns the title. It must describe the property by legal description of boundaries and/or parcel numbers, be signed by all people transferring the property, and be acknowledged before a notary public. It is in contrast to a quit claim deed, which only conveys the interest that the transferor actually owns, if any, without a warranty of ownership.
A New Mexico Grant Deed is a legal document used to transfer ownership of real property from one party, known as the granter, to another party, known as the grantee. This type of deed ensures that the granter has the legal authority to transfer the property and guarantees that the title is clear and free from any encumbrances, unless stated otherwise. The New Mexico Grant Deed must meet specific requirements to be valid, including the name and address of both the granter and the grantee, a legal description of the property being transferred, and the signature of the granter. It is crucial to have the Grant Deed prepared accurately, ensuring that all necessary information is included and properly executed, to prevent any title-related issues in the future. There are different types of Grant Deeds that can be used in New Mexico, depending on the specific circumstances of the property transfer. Some notable variations include: 1. General Warranty Deed: This type of Grant Deed provides the highest level of protection for the grantee, as it guarantees that the granter possesses a clear title to the property and will defend the grantee against any future claims by third parties. 2. Special Warranty Deed: With a Special Warranty Deed, the granter only guarantees that no title issues occurred during their ownership of the property. This means that they will defend the grantee against any claims resulting from their actions or ownership of the property but not against claims that predate their ownership. 3. Quitclaim Deed: A Quitclaim Deed is often used when transferring property between family members, as it transfers the granter's interest in the property without making any warranties or guarantees regarding the title. This means that the granter provides no assurance of the title's validity or lack of encumbrances. In conclusion, a New Mexico Grant Deed is a vital legal document used to transfer property ownership. By understanding the different types of Grant Deeds available, such as General Warranty Deeds, Special Warranty Deeds, and Quitclaim Deeds, individuals can choose the appropriate type of Grant Deed for their specific situation, ensuring a smooth and legally sound property transfer process.
