Fill and Sign the Deed of Sale Personal Representative to One or More Individuals New Mexico Form

© 2017 - U.S. Legal Forms, Inc.       NEW MEXICO DEED OF SALE [PERSONAL REPRESENTATIVE TO ONE OR MORE INDIVIDUALS] Control Number: NM-038-78 I. TIPS ON COMPLETING THE FORMS The form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer. They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand. It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible. By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner. II. DESIGNATING HOW THE GRANTEES WILL HOLD THE PROPERTY: A. In the State of New Mexico, real property can be held by more than one person (concurrent estates) in the following ways: 1. If the Grantees ARE NOT married to each other, they can hold the property as: a. Tenants in Common: a type of concurrent estate in which each party owns an undivided interest in the property that will pass to their heirs when the tenant in common dies. Generally their shares are “equal” but may differ in size. b. Joint Tenants with the Right of Survivorship ( JTWROS) : is a type of concurrent estate in which co-owners have a right of survivorship , meaning that if one owner dies, that owner's interest in the property will pass to the surviving owner or owners by operation of law, and avoiding probate. 2. If the Grantees ARE married to each other, they can hold the property as: a. Tenants in Common – See above b. Joint Tenants with the Right of Survivorship – See above c. Community Property - a form of joint ownership of property between married individuals. When a married co-owner dies their share goes to their heirs as provided in their will or the laws of intestacy. d. Community Property with the right of survivorship - a form of joint ownership of property between married individuals. When a married co- owner dies their share goes to the surviving spouse. 3. In the attached deed, the preparer will need to indicate how the Grantees will hold the property: as Tenants in Common; Joint Tenants with Right of Survivorship; community property or community property with the right of survivorship. B. For additional information on the above see the definitions at: http://lawdigest.uslegal.com/ C. For example: “ Ed Doe and Mary Roberts as joint tenants and not tenants in common .“ III. 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Prepared by:       Recording Requested By and Return Documents to: Name:       Address:       City/State/Zip       DEED OF SALE [Personal Representative to Individual(s)] KNOW ALL BY THESE PRESENTS THAT I,       , of       ,       County, State of       , duly appointed and acting Personal Representative of the Estate of       , deceased, late of       ,       County, State of       , testate , as shown by the probate records of       County (Docket No.       ), by the power conferred by the New Mexico Probate Code and the Order of the Probate Court, hereinafter “Grantor,” do hereby sell, convey, grant and release, to the following Grantee(s) as       :       , (Grantee’s name, street address, City, State and Zip Code)       , (Grantee’s name, street address, City, State and Zip Code)       , (Grantee’s name, street address, City, State and Zip Code)       , (Grantee’s name, street address, City, State and Zip Code) Deed of Sale-Personal Representative Page 1 of 2 the hereinafter described real property located in       ,       County, New Mexico, being more particularly described as follows: See legal description attached hereto as Exhibit A and incorporated herein for all purposes. Legal Description:       Also known by street and number as:       SUBJECT TO : All taxes for the year       , and subsequent years; all easements; rights-of-way; protective covenants and mineral reservations of record, if any. TOGETHER WITH all rights, interests, rents, issues and profits thereof, and all the estate, right, title, interest, property, possession, claim and demand whatsoever, both in law and equity, which said decedent had in her lifetime and at the time of her death, and which the Grantor has as Personal Representatives of said estate, or otherwise, of, in and to the above-described premises and every part and parcel thereof. GRANTOR covenants with the Grantees that the Grantor has the authority to convey pursuant to the law and decedent’s Will, and that Grantor has not made, done or suffered any act, matter or thing whatsoever whereby the above granted premises, or any part thereof, now or at any time may be impeached, charged or encumbered in any manner whatsoever. IN WITNESS WHEREOF , Grantor has executed this Deed on this the       day of       , 20       , as Personal Representative of the Estate of       . Signature of Personal Representative       Print or Type Name Deed of Sale-Personal Representative Page 2 of 2 COUNTY OF       , STATE OF NEW MEXICO The foregoing instrument was acknowledged before me this       day of       , 20       , by       . as Personal Representative of the Estate of       Deceased. My Commission Expires:       Notary Public [SEAL]       Type or Print Name Deed of Sale-Personal Representative Page 3 of 2 EXHIBIT A Estate of       Grantor:       Grantee(s)                   Legal Description:       Deed of Sale-Personal Representative Exhibit A