The New Mexico Granting Clause is a critical element in real estate transactions within the state of New Mexico. It is an essential provision found in property deeds and conveys the legal ownership rights from the granter (seller) to the grantee (buyer). This clause clearly defines the extent and nature of the property interests being transferred. The New Mexico Granting Clause is typically structured as "The Granter grants, bargains, sells, conveys, and confirms unto the Grantee..." This language demonstrates the intention of the granter to transfer the property rights completely and unconditionally. It assures the grantee that they have obtained a clear and marketable title to the property, free from any encumbrances or claims. There are different types of New Mexico Granting Clauses depending on the specific circumstances of the transaction: 1. General Warranty Deed: This type of granting clause provides the highest level of protection for the grantee. It includes extensive covenants and warranties by the granter, guaranteeing the grantee against any defects in title that may have arisen prior to or during the granter's ownership. 2. Special Warranty Deed: The special warranty deed granting clause is less comprehensive compared to the general warranty deed. It safeguards the grantee only against defects in title that occurred during the granter's ownership, without extending protection to any prior issues. 3. Quitclaim Deed: A quitclaim deed granting clause offers the least protection to the grantee. The granter makes no warranties or guarantees regarding the title. It simply transfers whatever interest the granter possesses, if any, without providing any assurance. In all types of New Mexico Granting Clauses, it is crucial for the grantee to carefully evaluate the specific language used, seek legal advice, and conduct a thorough title search to ascertain the property's ownership history and any potential liens or encumbrances. This advanced due diligence ensures that the grantee's interests are fully protected before finalizing the real estate transaction.
New Mexico Granting Clause
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FAQ
A New Mexico deed of trust assigns a real estate title to a trustee to keep until a loan has been repaid from the owner of the property (the ?borrower?) to the provider of the loan (the ?lender?).
An action to determine and quiet the title of real property may be brought by anyone having or claiming an interest therein, or by the holder of any mortgage, mortgage deed, trust deed or any other written instrument which may operate as a mortgage, in an action brought to foreclose the said mortgage, mortgage deed, ...
Yes. The TODD is for any real estate located in New Mexico. Any existing leases would continue in effect after the owner's death.
Section 37-1-22 - Title in fee simple by adverse possession; action after ten years barred; definition; payment of taxes.
The statutory period for adverse possession in New Mexico is ten years. 3 This means that an owner of land must take action against someone within ten years of that person taking possession of the land in order to prevent the person from acquiring superior title.
Easements in New Mexico are used to provide non-owners with rights of ingress, egress, utilities, and drainage over a specific portion of another's land. Ingress and egress are terms for the easement right to travel to and from a property over the lands of another ? they provide pedestrian and/or vehicular access.