Other Types of Deeds
Other Types of Deeds
- Personal Representative Deed: Deed from the Personal Representative of the estate to the person or entity entitled to transfer of the property.
- Quitclaim Deed: Deed that conveys whatever interest the grantor has, if any, in a property without any guarantees or warranties regarding clear title or other provisions
- Transfer on Death Deed: Deed that provides for the transfer of title only upon the death of the grantor. To be valid, it must be recorded with the County Clerk's Office prior to the death of the property owner. Generally, this does not require probate proceedings to take effect.
- Warranty Deed: Deed that guarantees clear title and other warranties.
Legal Terms on Deeds & the Effects on Co-Owned Property
- Also known as Joint Tenancy with Rights of Survivorship (JTWROS). If a Deed between two or more co-owners references this language, each owner has an identical and simultaneous interest in the property with the same right of possession. If one owner dies, his or her share passes to the surviving joint tenants or co-owners and NOT to the deceased owner’s heirs or devisees.
- If real property is held in Joint Tenancy, a probate is usually unnecessary when the first joint tenant dies. The surviving joint tenant should take information to the County Assessor’s Office such as a copy of the Deed and Death Certificate to update County records.
Tenancy in Common
- If a Deed between two or more co-owners does not include language regarding Joint Tenancy, it is presumed that the owners hold the property as Tenant in Commons. In this case, once one of the co-owners dies, the heirs or devisees are entitled to the deceased owner’s interest in the property.
- If real property is held as Tenants in Common and no Transfer on Death Deeds or other instruments were prepared and recorded for automatic transfer, generally a probate proceeding is required to grant the Personal Representative the authority to transfer title to the rightful recipients.
Other Options for the Transfer of Real Estate
- Affidavit of Transfer of Homestead to Surviving Spouse (NMSA §45-3-1205): New Mexico law allows for the transfer of a deceased spouse’s interest in the couple’s homestead (primary marital residence) to the surviving spouse by a notarized statement, subject to specific provisions and values. The Affidavit is recorded with the County Clerk' office and does not require a probate proceeding.