Escrow & Title
In New Mexico, when is a deed considered 'delivered and accepted' for legal transfer of title?
AWhen the seller signs the deed
BWhen the grantor physically or constructively delivers the deed to the grantee with intent to transfer title and the grantee accepts it✓ Correct
CWhen the deed is notarized
DWhen the deed is recorded
Explanation
Title passes when the deed is delivered with the grantor's intent to transfer title AND accepted by the grantee — not merely upon signing or notarizing. Recording creates constructive notice but is not required for the transfer to occur between the parties.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
EasementA non-possessory right to use another person's land for a specific purpose.
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