Free New Mexico Quitclaim Deed Form

A Guide to Using a Quitclaim Deed in New Mexico

If you are a parent wishing to transfer your rights in a property to your child or children, it often means that you know much about the history of the property, and the title. In most cases, you know that the title is clear and your children will not have issues once they take up ownership. If this is the case, we recommend that you get a quitclaim deed.

A quitclaim deed, a quitclaim or a non-warranty deed is the legal instrument that legally conveys your rights in real property to another party. The law recognizes you as the grantor, and the recipient of the property is the grantee.

Mistakenly referred to as a quick claim form, it should be noted that the document does not come with any warranties of title. So, even though this document could be used to transfer rights between parents and children, it should be well-noted that the parent(s) will not be held liable if it later turns out that the title had prior, decades’ old encumbrances. The lack of warranties on the title is the reason why the deed is also called a non-warranty title. This is also the factor that differentiates the quitclaim from the warranty deeds – the latter offer warranty of title and the grantor is the legal owner of the property.

The lack of warranty on titles in quitclaims is the reason for its use among family members and generally, parties that trust each other.

Using the quitclaim deed in New Mexico

To successfully create and execute a quitclaim deed in New Mexico, you first need a template to guide you. Fortunately, the internet is awash with a printable PDF version of the free deed form. We, however, recommend that you download the free New Mexico quitclaim deed form. This form is not only state-specific, but it also has everything you need to know about executing the quitclaim.

The statutes allow the use of quitclaims in the state, and the legal requirements for the execution of a valid quitclaim are outlined in the statutes under the 1978 statutory code, in Section 47-1-44(3). This section states explicitly that the quitclaim does not offer any warranties of title and that the document gives the grantee the least amount of protection.

• Quitclaim’s Requirements

• • The deed should have the full legal name of the grantor, their actual mailing address and their marital status.

  • It must have the details of the grantee as well. These details include their full legal name, marital status, mailing address, and their vesting. Vesting is an element in real estate that describes how a grantee wishes to the title to the property conveyed to them. Generally, the statutes note that transferred property is either owned under a co-ownership or under a sole proprietorship. For residential property, the state outlines three primary methods of holding property: joint tenancy, tenancy in common, or as community property. And if ownership granted is between at least two people, married or unmarried, the transfer will presumably create a tenancy in common unless the conveyance is meant to create a joint tenancy expressly. On the other hand, property conveyance between a married couple is automatically presumed a community property, unless exempted in the statutes under section 1978 40-3-12.

  • Regarding the conveyance of realty, the state requires that the quitclaim comes with a full legal description of the parcel of land.

  • The deed is also expected to have all the property deed’s prior references cited. These details are important because they ensure the maintenance of a clear chain of title. The recite should also have details of all or any restriction which is associated with the property.

  • Before recording, the deed must meet all the statutory and the legal quitclaim recording requirements.

  • Note: with the state of New Mexico being a nondisclosure state, you should know that specific personal details and consideration that is exchanged for the property transfer will not be made public.

  • The deed must be signed and acknowledged in the presence of the notary public or any other authorized officials.

  • For the valid transfer of the deed, make sure that the deed is recorded at the county’s clerk office. This is to take place in the county where the property under conveyance is located. For payment details, you should contact the clerk’s office.

  • A Real Property Transfer Declaration Affidavit is also necessary for the conveyance. The affidavit has the specifics of the transfer. Note that there exist exceptions to the details expected to the provided, for example, the instrument that is delivered to establish a distribution or a gift, or even an instrument that is pursuant to the court-ordered partition. For conveyances exempted from this affidavit requirement, the reason for the exemption must be detailed on the face of the deed. The list of exemptions is listed in section 1978 7-38-12.1(D) of the statutes. Keep in mind that this affidavit has to be filed with the office of the real estate assessor within 30 days of the deed’s recordation.

• When to use the quitclaim deed

• • Clearing up title clouds – your title company might ask you to prepare a quitclaim to clear title clouds/ issues before giving you title insurance. Also, if you are looking for a loan, a lender might ask someone who will not be on the loan, say a spouse, complete a quitclaim, quitclaiming their interests in the property.

  • During a divorce proceeding, you could use the quitclaim to quit your interests in a homestead to your loved one.

  • A parent might use the deed to transfer property to their children

  • The deed could be used to transfer interests in property to a trust

  • Transferring rights in property to an LLC or a corporation.

Would you like to transfer interests in property in Las Cruces, Roswell, Albuquerque, Santa Fe, Taos, Farmington, Carlsbad or any other city in New Mexico? Download our free quitclaim deed form here, to get started today.