Easily Replace Option Choice from the Warranty Deed

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How to Replace Option Choice from the Warranty Deed

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In response to Gina's question about changing a quitclaim deed to a warranty deed after purchasing a foreclosure, attorney Robert Flesses explains that it is not possible to convert one type of deed into another. A quitclaim deed transfers only the rights and interests that the seller had at the time of sale, without any guarantees. Therefore, you cannot change a quitclaim deed into a warranty deed, which provides more protective guarantees regarding the title. Flesses emphasizes the importance of understanding the limitations of quitclaim deeds in real estate transactions.

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Which deed offers the greatest protection?

A general warranty deed is used to transfer real property from one person to another. This type of deed offers the greatest protection for the buyer and has specific requirements for what must be included in the document.

What is another name for a warranty deed?

A warranty deed or quit claim deed TRANSFERS TITLE or OWNERSHIP of real property.

What is the best deed to transfer property?

General Warranty Deeds: A general warranty deed provides the most protection to the buyer but gives the grantor the highest degree of liability. The grantor of a general warranty deed fully warrants good clear title to the property. This type of deed is used in most real estate deed transfers.

What is the difference between a warranty deed and a quit claim deed in New Mexico?

A warranty deed promises that the grantor holds good, clear title to a piece of real estate. It promises also that the grantor has the right and authority right to sell it to the grantee or buyer. A quitclaim deed, on the other hand, makes no promises about the quality of the title to the property.

What is a New Mexico form of warranty deed?

A New Mexico special warranty deed is a legal document used to convey real estate in New Mexico. The deed must include the name of the grantor and the grantee as well as a legal description of the property. The deed must be recorded with the county clerks office in the county where the property is located.

What is a deed without warranty in New Mexico?

A New Mexico quitclaim deed form transfers real estate with no warranty of title. The current owner makes no covenants of warranty, and the new owner bears all the risk of unknown problems with the propertys title.

What is a warranty deed in New Mexico?

A New Mexico warranty deed is a real estate transfer document in which a seller (grantor) conveys property rights to a buyer (grantee) and warrants that no encumbrances or other issues cloud the property title.

How do I transfer a warranty deed in New Mexico?

New Mexico law requires Form RPTDA when a deed transfers residential real estate to a new owner. A completed Form RPTDA must be signed by the current owner, new owner, or authorized agent and filed with the county assessor within 30 days after the deed is recorded.

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Replace Option Choice from the Warranty Deed