Escrow & Title
The New Mexico Real Estate Transfer Tax is paid by:
AThe buyer
BThe seller✓ Correct
CSplit equally between buyer and seller
DThe title company
Explanation
In New Mexico, the Real Estate Transfer Tax is customarily paid by the seller. The rate is $1.
Related New Mexico Escrow & Title Questions
- In New Mexico, 'actual loss coverage' in a title insurance policy means the insurer will:
- When a New Mexico deed is recorded with the county clerk, what protection does this provide?
- Recording a deed in New Mexico protects the buyer primarily by:
- In New Mexico, what is 'constructive notice' as it relates to recording documents?
- In New Mexico, the closing agent or escrow officer's primary role is to:
- What is the purpose of a title search in a New Mexico real estate transaction?
- Proration at closing means:
- In New Mexico, a 'warranty of title' in a general warranty deed protects the grantee by covenanting against:
Practice More New Mexico Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Mexico Quiz →