A New Mexico deed is a legal instrument used in real estate transactions to transfer a property’s title from one owner to another. Included in each deed will be the name of the grantor (seller/transferor), name of the grantee (buyer/transferee), a legal property description, and the consideration ($) paid (or wording identifying the property as a gift). Depending on the chosen deed type, the document may also contain warranties protecting the grantee against defects in the property’s title (e.g., judgments, liens).
An original deed must bear the grantor’s notarized signature and be recorded at the County Clerk’s Office (the clerk will collect a recording fee of $25).
Deed of Trust – Transfers a property’s title from a home buyer (grantor) to a third party (trustee) to hold onto as loan security. The title is returned to the grantor upon repayment to the loan provider (beneficiary).
Quit Claim Deed – Conveys ownership with no promises or warranties regarding the property’s title (the grantee assumes the risk of potential title encumbrances).
Special Warranty Deed – Contains a limited warranty that protects the grantee against title encumbrances caused by the grantor.
Transfer on Death Deed – Allows the grantor to designate beneficiaries for their property. Once the grantor passes away, the property transfers to the beneficiaries without probate.
Warranty Deed – Known in most other states as a “general warranty deed,” this document protects the grantee against title encumbrances caused by the grantor and all previous owners of the property.
- Statutes: Ch. 47, Art. 1 (Conveyance and General Provisions)
- Formatting: No state-wide requirements. Counties may set their own formatting standards.
- Signing Requirements (§ 14-8-4): Notary Public
- Where to Record (§ 14-9-1): County Clerk’s Office
- Recording Fees (§ 14-8-15): $25
- Homeowners’ Association Disclosure Certificate Request (§ 47-16-11): If selling a lot that is subject to the Homeowners’ Association Act, the grantor must provide this form to the association to request a disclosure certificate. The certificate must be provided to the grantee no later than seven (7) days before the transfer date.