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Warranty Deed to Child Reserving a Life Estate in the Parents - New Mexico

Warranty Deed to Child Reserving a Life Estate in the Parents - New Mexico 2025

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The document is a Warranty Deed form prepared by U.S. Legal Forms, Inc. for the State of New Mexico, which facilitates the transfer of property from parents (Grantors) to their child (Grantee) while reserving a life estate for the parents. It includes instructions for completing the form, a disclaimer regarding legal advice, and sections for signatures and notary acknowledgment.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the names of the Grantors (the parents) in the designated fields. Ensure you specify if they are married or unmarried.
Next, input the name of the Grantee (the child) and indicate their marital status as well.
Fill in the legal description of the property being transferred. This is crucial for clarity and should match any attached Exhibit A.
Specify any life estates retained by the Grantors, ensuring that you clearly outline how these will operate consecutively.
Complete the section regarding easements and mineral rights, if applicable, to avoid future disputes.
Finally, have both Grantors sign and date the document. Ensure that a notary public acknowledges their signatures for legal validity.

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What is a general warranty deed with reservation of life estate?

A deed with a reserved life estate is used when you wish to both pass your real property to someone upon your death and also protect the property from nursing-home liens. This document may also make it possible for you to live in and maintain control of the property until your death.

What does life estate mean on a deed?

It allows for a simple property transfer A life estate helps avoid the probate process upon the life tenants death. The property will automatically transfer to the remainderman, making the process simple and easy a will isnt needed.

What are the disadvantages of a life estate deed?

A life estate is created by a deed that gives the property to the person for life and identifies what should happen to it after that person dies. For example, a deed stating that land would go to John Doe for life, then to Jane Doe gives John a valid life estate, and Jane a remainder.

What does reserving a life estate mean on a deed?

A life estate deed allows you to transfer property while reserving an interest during your lifetime or during the lifetime of someone else. Once the person who holds the life estate passes away, the Grantee fully owns the property.

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