New Mexico Quitclaim Deed from Individual to Two Individuals in Joint Tenancy
What is this form?
The Quitclaim Deed from Individual to Two Individuals in Joint Tenancy is a legal document used to transfer ownership of real property from an individual (the Grantor) to two individuals (the Grantees) who will hold the property in joint tenancy. Unlike other deeds, a quitclaim deed does not guarantee that the Grantor holds a clear title or that the property is free of claims. It is essential for instances where the Grantor needs to transfer interest in property without providing warranties, making it distinct from warranty deeds.
Form components explained
- Identification of the Grantor and Grantees involved in the property transfer.
- A legal description of the property being conveyed, often included as an attachment.
- Reservation of oil, gas, and mineral rights, indicating what is not included in the transfer.
- Details on how property taxes will be prorated or paid.
- Contingency regarding whether the property is part of the Grantor's homestead.
- Signatures and notarization requirements for the validity of the deed.
Situations where this form applies
This form is commonly used when an individual wishes to transfer property ownership to two individuals, particularly in family situations, estate planning, or when adding partners to an existing property. It may be utilized when the Grantor is not concerned about guaranteeing the title of the property and desires a simple and quick transfer process.
Intended users of this form
- Property owners looking to transfer their interest in real estate to two joint owners.
- Individuals involved in estate planning who wish to streamline ownership transfers among family members.
- Co-owners of a property who agree to re-title the property in joint tenancy for equal ownership and survivorship rights.
How to prepare this document
- Identify the parties involved: the Grantor and the two Grantees.
- Provide the legal description of the property, typically attached as an Exhibit.
- Specify any reservations regarding mineral rights or other encumbrances.
- Decide on the payment of property taxes and document how they will be handled.
- Ensure applicable signatures are obtained, followed by notarization if required.
Notarization requirements for this form
This document requires notarization to meet legal standards. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available 24/7.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Not providing a clear legal description of the property.
- Failing to include necessary signatures, particularly if married.
- Omitting any reservations regarding mineral rights.
- Not confirming the compliance of the form with state-specific requirements.
Benefits of completing this form online
- Convenience of downloading and printing the form at any time.
- Editability to tailor the deed to specific needs and situations.
- Instant access to legally vetted templates designed by licensed attorneys.
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FAQ
Discuss property ownership interests. Access a copy of your title deed. Complete, review and sign the quitclaim or warranty form. Submit the quitclaim or warranty form. Request a certified copy of your quitclaim or warranty deed.
Notary Public (Section 47-1-44) In New Mexico it must be signed with a Notary Public viewing the Grantor(s) signature(s). Recording 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).
A New Mexico quitclaim deed transfers property without any guarantees, including title guarantees or a guarantee that the seller (grantor) has the right to transfer the property. Because of the risk of a quitclaim deed in New Mexico, it is best done when both parties trust each other. An alternative is a warranty deed.
They are commonly used to add/remove someone to/from real estate title or deed (divorce, name changes, family and trust transfers). The quitclaim deed is a legal document (deed) used to transfer interest in real estate from one person or entity (grantor) to another (grantee).
A quitclaim deed transfers title but makes no promises at all about the owner's title.A person who signs a quitclaim deed to transfer property they do not own results in no title at all being transferred since there is no actual ownership interest. The quitclaim deed only transfers the type of title you own.
You can apply to court to change your ex-partner's tenancy to your name, or remove their name from a joint tenancy. You can apply for a 'transfer of tenancy' if: your landlord refuses to change your tenancy. your tenancy doesn't allow a transfer.
To use a Quitclaim Deed to add someone to a property deed or title, you would need to create a Quitclaim Deed and list all of the current owners in the grantor section. In the grantee section, you would list all of the current owners as well as the person you would like to add.
But you might be wondering if an owner can transfer a deed to another person without a real estate lawyer. The answer is yes. Parties to a transaction are always free to prepare their own deeds.A quitclaim deed, for example, is far simpler than a warranty deed.
