Property Ownership
In New Mexico, which type of deed transfers whatever interest the grantor has — which may be nothing — with no warranties?
AGeneral warranty deed
BSpecial warranty deed
CQuitclaim deed✓ Correct
DBargain and sale deed
Explanation
A quitclaim deed transfers whatever interest the grantor currently holds, without any covenants or warranties. It is commonly used to clear title defects, transfer between family members, or correct deed errors.
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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).
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
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