A New Mexico Gift Deed of Mineral Interest with No Warranty is a legal document used to transfer ownership of mineral rights from one party to another as a gift. This type of deed does not come with any warranties, meaning the granter does not guarantee the validity of the title or the quality of the mineral interests being transferred. It is important to understand the different types of New Mexico Gift Deed of Mineral Interest with No Warranty, as they cater to specific circumstances: 1. New Mexico Gift Deed of Mineral Interest with No Warranty — Individual to Individual: This type of gift deed is used when an individual is gifting their mineral rights to another individual. It establishes the intention to transfer ownership without any warranty. 2. New Mexico Gift Deed of Mineral Interest with No Warranty — Trust to Individual: In some cases, mineral rights may be held in a trust, and this type of gift deed is used when the trust wants to transfer those mineral interests to an individual beneficiary without providing any warranties. 3. New Mexico Gift Deed of Mineral Interest with No Warranty — Corporation to Individual: In situations where a corporation or a business entity holds the mineral interests, this type of gift deed allows the transfer of those interests to an individual without warranty. 4. New Mexico Gift Deed of Mineral Interest with No Warranty — Individual to Corporation: This particular gift deed is employed when an individual wishes to gift their mineral interests to a corporation or a business entity, without providing any warranties. Overall, a New Mexico Gift Deed of Mineral Interest with No Warranty is a legally binding document that transfers ownership of mineral rights as a gift without any warranties. These different types of gift deeds cater to various scenarios involving the transfer of mineral interests, depending on the parties involved. It is crucial to consult with a qualified attorney to ensure the accuracy and legality of the gift deed in compliance with New Mexico state laws and regulations.
New Mexico Gift Deed of Mineral Interest with No Warranty
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How to fill out New Mexico Gift Deed Of Mineral Interest With No Warranty?
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FAQ
A general warranty deed is the most common type of deed used for transferring real estate. It basically promises that: not only does the seller have good and proper title to sell the property, but all the prior owners also had good title, thus making a complete ?chain of ownership?; and.
Cons: Fewer protections for buyers, who are now responsible for addressing any previous liens or claims for the property. Lenders and title companies may refuse to help buyers secure financing or title insurance for a property sold under special warranty.
While the seller in a Warranty Deed must defend the title against all other claims and compensate the buyer for any unsettled debts or damages, the seller in a Special Warranty Deed is only responsible for debts and problems accrued or caused during his ownership of the property.
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.
To transfer any rights to minerals successfully, follow these steps: The new owner has to acquire a copy of the deed for the site at a local courthouse in New Mexico. Review the deed to ensure it matches the description and to ensure that the so-called rights to any minerals are included in the property deed.
A special warranty deed guarantees two things: The grantor owns, and can sell, the property; and the property incurred no encumbrances during his ownership. A special warranty deed is more limited than the more common general warranty deed, which covers the entire history of the property.
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.
A special warranty deed is a type of legal document used to transfer New Mexico real estate from one person to another. In a special warranty deed, the seller, also known as the grantor, transfers the property with special warranty covenants.
