Albuquerque New Mexico Warranty Deed from Corporation to Individual

• Category: New Mexico Real Estate - Deeds - Warranty
• State: New Mexico
• City: Albuquerque
• Control #: NM-011-78
• Format: Word; Rich Text

Description

This Warranty Deed from Corporation to Individual form is a Warranty Deed where the Grantor is a corporation and the Grantee is an individual. Grantor conveys and warrants the described property to Grantee less and except all oil, gas and minerals, on and under the property owned by Grantor, if any, which are reserved by Grantor. This deed complies with all state statutory laws. A warranty deed is an important legal document used in Albuquerque, New Mexico, that transfers ownership of property from a corporation to an individual. This deed provides the buyer (individual) with a guarantee that the property is free from any liens, encumbrances, or claims by the corporation. It ensures that the corporation legally possesses the authority to transfer the property to the buyer and will defend the title against any future claims. In Albuquerque, New Mexico, there are several types of warranty deeds from a corporation to an individual, including the General Warranty Deed, Special Warranty Deed, and Quitclaim Deed. Each type offers varying levels of protection and guarantees to the buyer. 1. General Warranty Deed: The General Warranty Deed is the most comprehensive type of warranty deed. In this agreement, the corporation guarantees that it holds clear title to the property and will defend it against any potential claims, even prior to its ownership. This type of deed provides the highest level of protection to the buyer. 2. Special Warranty Deed: The Special Warranty Deed, also known as a Limited Warranty Deed, offers a more limited guarantee. The corporation assures that it holds clear title to the property during its ownership period, but it does not defend against any claims arising before the corporation acquired the property. Therefore, the buyer receives protection only for the duration of the corporation's ownership. 3. Quitclaim Deed: A Quitclaim Deed is a less commonly used type of warranty deed. Unlike the previous two types, it does not provide any warranty or guarantee of the property's title. This means that the corporation transfers its interest in the property to the individual without making any promises about the property's ownership history. It is advisable to exercise caution when accepting a Quitclaim Deed since it offers the least amount of protection to the buyer. In conclusion, an Albuquerque, New Mexico Warranty Deed from Corporation to Individual is a legal document that facilitates the transfer of property ownership. The various types of warranty deeds, including General Warranty Deed, Special Warranty Deed, and Quitclaim Deed, differ in the level of protection and guarantees they provide to the buyer. Understanding the specifics of each type is crucial for both the corporation transferring the property and the individual receiving it.

A warranty deed is an important legal document used in Albuquerque, New Mexico, that transfers ownership of property from a corporation to an individual. This deed provides the buyer (individual) with a guarantee that the property is free from any liens, encumbrances, or claims by the corporation. It ensures that the corporation legally possesses the authority to transfer the property to the buyer and will defend the title against any future claims. In Albuquerque, New Mexico, there are several types of warranty deeds from a corporation to an individual, including the General Warranty Deed, Special Warranty Deed, and Quitclaim Deed. Each type offers varying levels of protection and guarantees to the buyer. 1. General Warranty Deed: The General Warranty Deed is the most comprehensive type of warranty deed. In this agreement, the corporation guarantees that it holds clear title to the property and will defend it against any potential claims, even prior to its ownership. This type of deed provides the highest level of protection to the buyer. 2. Special Warranty Deed: The Special Warranty Deed, also known as a Limited Warranty Deed, offers a more limited guarantee. The corporation assures that it holds clear title to the property during its ownership period, but it does not defend against any claims arising before the corporation acquired the property. Therefore, the buyer receives protection only for the duration of the corporation's ownership. 3. Quitclaim Deed: A Quitclaim Deed is a less commonly used type of warranty deed. Unlike the previous two types, it does not provide any warranty or guarantee of the property's title. This means that the corporation transfers its interest in the property to the individual without making any promises about the property's ownership history. It is advisable to exercise caution when accepting a Quitclaim Deed since it offers the least amount of protection to the buyer. In conclusion, an Albuquerque, New Mexico Warranty Deed from Corporation to Individual is a legal document that facilitates the transfer of property ownership. The various types of warranty deeds, including General Warranty Deed, Special Warranty Deed, and Quitclaim Deed, differ in the level of protection and guarantees they provide to the buyer. Understanding the specifics of each type is crucial for both the corporation transferring the property and the individual receiving it.