A New Mexico Limited Title Opinion is a legal document prepared by a qualified attorney who specializes in real estate law in the state of New Mexico. This opinion is sought by individuals or entities involved in real estate transactions to determine the validity and ownership of property titles. It serves as an evaluation of the title's status, outlining any potential risks or concerns related to its ownership. The primary purpose of a New Mexico Limited Title Opinion is to provide a concise summary of the attorney's findings based on a comprehensive title search. The attorney will review public records, deeds, mortgages, liens, judgments, and other relevant documents to assess the title's legitimacy. Thorough research is conducted to ensure that there are no issues that may hinder the transfer of ownership or compromise the buyer's interest in the property. In addition to examining the title's validity, a New Mexico Limited Title Opinion also inspects any encroachments, easements, restrictions, or any legal matters that could impact the property's use or value. It assesses various factors such as outstanding liens, boundary disputes, zoning regulations, rights of way, and any pending litigation involving the property. Different types of New Mexico Limited Title Opinions may exist, including: 1. Standard New Mexico Limited Title Opinion: This type of opinion assesses the title's validity and provides a general overview of any potential issues or risks affecting the property. It is often obtained by buyers or lenders during real estate transactions. 2. Extended New Mexico Limited Title Opinion: This opinion offers a more detailed analysis of the title, going beyond the basic assessment provided in a standard opinion. It may delve further into matters like complex boundary disputes, restrictive covenants, or claims against the property. 3. Lender's New Mexico Limited Title Opinion: Specifically requested by lenders or mortgage companies, this opinion examines the title from the perspective of the lender to ensure the property's value is sufficient to secure the loan. 4. Owner's New Mexico Limited Title Opinion: This type of opinion is sought by property owners who wish to understand the status of their title thoroughly. It enables them to address any title issues proactively and resolve discrepancies before engaging in a sale or refinancing. In conclusion, a New Mexico Limited Title Opinion is a crucial legal document that offers a detailed analysis of a property's title. It provides prospective buyers, lenders, and property owners with valuable information regarding the status, validity, and potential risks associated with a property's title in accordance with the laws of New Mexico.
New Mexico Limited Title Opinion
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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.
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.
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).
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.
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.
New Mexico is a community-property state. All parties to a transaction appear with their attorneys for closing. Conveyance is by bargain-and-sale deed. Mortgages are the security instruments in this lien-theory state.
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.