The New Mexico Seller's Affidavit and Declaration Concerning Warranties in Assignment is a legal document used in real estate transactions in the state of New Mexico. This affidavit is a declaration made by the seller of a property, stating that they have disclosed and provided accurate information regarding the warranties associated with the assigned property. This document is crucial in ensuring transparency and protecting buyers from any potential misrepresentation or undisclosed issues regarding the property they are purchasing. It confirms that the seller has provided accurate information about any warranties associated with the property, giving the buyer a clear understanding of the property's condition before they make a purchase. The New Mexico Seller's Affidavit and Declaration Concerning Warranties in Assignment may include various types, depending on the specific details and circumstances of the property being sold. Some common types include: 1. General Warranty: This type of affidavit ensures that the seller warrants the title to the property and guarantees that there are no undisclosed title defects, liens, or encumbrances. 2. Limited Warranty: In this type of affidavit, the seller provides a limited warranty stating that they have not created any defects or encumbrances on the property during their ownership. However, this warranty may not cover any previous defects or issues that existed prior to their ownership. 3. As-Is Warranty: This affidavit asserts that the seller is selling the property in its current condition, without any warranties or guarantees. It acknowledges that the buyer accepts the property in its current state and assumes any risks associated with potential defects or issues. 4. Seller Financing Warranty: If the seller provides financing to the buyer for the property purchase, this affidavit may include warranties regarding the seller's financial ability to provide the agreed-upon financing. It is essential for both the buyer and seller to review and understand the specific type of New Mexico Seller's Affidavit and Declaration Concerning Warranties in Assignment being used in their real estate transaction. It is advised to consult with a real estate attorney or professional familiar with New Mexico laws to ensure compliance and a comprehensive understanding of the document's implications.
New Mexico Seller's Affidavit and Declaration Concerning Warranties in Assignment
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How to fill out New Mexico Seller's Affidavit And Declaration Concerning Warranties In Assignment?
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