New Mexico Gift Deed of Nonparticipating Royalty Interest with No Warranty is a legal document used in New Mexico which allows an individual to transfer their nonparticipating royalty interest in an oil, gas, or mineral property to another party as a gift. This type of gift deed comes with no warranty, meaning that the person transferring the interest does not provide any guarantees or assurances regarding the quality, validity, or ownership of the interest being transferred. Keywords: New Mexico, Gift Deed, Nonparticipating Royalty Interest, No Warranty, oil property, gas property, mineral property, transfer, gift, legal document. Different types of New Mexico Gift Deed of Nonparticipating Royalty Interest with No Warranty include: 1. Individual to Individual Gift Deed: This type of gift deed is used when an individual transfers their nonparticipating royalty interest to another individual as a gift. It can be used for family transfers or between friends. 2. Family Trust Gift Deed: This gift deed is utilized when an individual transfers their nonparticipating royalty interest to a family trust as a gift. The trust then becomes the legal owner of the interest and manages it on behalf of the designated beneficiaries. 3. Charitable Gift Deed: This type of gift deed is employed when an individual donates their nonparticipating royalty interest to a charitable organization or foundation as a gift. The organization can then utilize the interest for the benefit of their charitable activities. 4. Corporate Gift Deed: In certain cases, a corporation may choose to transfer its nonparticipating royalty interest to another corporation as a gift. This type of gift deed ensures that the interest is transferred without warranty and can be a part of larger corporate restructuring or mergers. It is crucial to consult with a qualified legal professional or an attorney specializing in real estate or oil, gas, and mineral rights to ensure that the specific requirements and regulations of New Mexico are followed when drafting or executing a Gift Deed of Nonparticipating Royalty Interest with No Warranty.
New Mexico Gift Deed of Nonparticipating Royalty Interest with No Warranty
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To record a document such as a deed, mortgage, water rights, lien or other you must: Bring the document in person to the Clerks Office or send by mail: Documents must be original (all required seals and signatures) Notary Information must be complete signature, date, seal, and expiration date is required.
Signing Requirements for New Mexico Deeds The current owner who is transferring real estate must sign and acknowledge a deed before a notary or other officer. Notary certificates must include the date of acknowledgment; the notary's signature, stamp or seal; and the commission expiration date.
An unrecorded deed is a deed for real property that neither the buyer nor the seller has delivered to an appropriate government agency. Unrecorded deeds can present many issues for sellers (or grantors) and buyers (or grantees) such as proof of ownership and tax implications.
How to Write (1) Authorized New Mexico Filing Recipient. ... (2) New Mexico Grantor Name. ... (3) New Mexico Grantee Name. ... (4) New Mexico County Of Real Property. ... (5) Legal Description Of New Mexico Property. ... (6) Relevant Years. ... (7) Date Of New Mexico Conveyance. ... (8) New Mexico Grantor Signature.
New Mexico law requires Form RPTDA when a deed transfers residential real estate to a new owner. A completed Form RPTDA must be signed by the current owner, new owner, or authorized agent and filed with the county assessor within 30 days after the deed is recorded.
The term ?non-participating? indicates that the interest owner does not share in the bonus, rentals from a lease, nor the right (or obligation) to make decisions regarding execution of those leases (i.e., no executive rights).
Recording. Pursuant to Senate Bill 369, A County Clerk shall collect a recording fee of $25.00 for each document filed or recorded by the County Clerk.
Recording (N. M. S. A. 1978, § 14-9-1) ? A quit claim deed is required to be filed at the County Clerk's Office where the property is located along with the required recording fee(s). Signing (N. M. S. A. 1978, § 47-1-44) ? In New Mexico, it must be signed with a Notary Public viewing the Grantor(s) signature(s).
