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A New Mexico unsecured promissory note provides a basis for an agreement between two parties consisting of a lender and borrower. In the transaction, the lender makes a profit by receiving interest on top of being reimbursed the original loaned amount. This note template does not include a section where security is declared. Because of this,…

A New Mexico secured promissory note binds the borrower and the lender of a monetary loan on various points of the agreement, including what collateral will be offered by the borrower as security in case of default. Once all points have been completed by the parties and everyone’s signatures have been written on the document, the…

A New Mexico small estate affidavit is a method of collecting the property of someone who died that is usually faster than the traditional methods of estate administration. It is available whether or not the decedent, the person who died, had a will. However, it is only available for estates with a value below the…

A New Mexico last will and testament is a legal document set forth by a testator (the person creating the will) who wishes to provide instructions for how their estate shall be distributed upon death. All aspects of the testator’s estate– such as financial accounts, fiduciary funds, life insurance policies, as well as real, personal,…

A New Mexico deed is used to legally convey real estate between parties in New Mexico. In order to transfer property, with a deed, you will need the names of the seller, or grantor, the names of the buyer, or grantee, the legal description of the property and an acknowledgment by a notary public. The…

The New Mexico living trust is an alternative method of divesting an estate, wherein the estate is signed over to trust with instructions on how it will be divided if the creator (the Grantor) dies or becomes incapacitated. The advantages to a living trust are that it avoids probate, it can protect an estate from creditors,…

A New Mexico transfer on death deed allows a person to transfer their real property to a designated beneficiary upon their death. Using a transfer on death deed offers a much simpler process than going through the probate court to transfer ownership. Laws: Chapter 45, Article 6, Part 4 – Uniform Real Property Transfer on Death…

A New Mexico special warranty deed is a legal document used to convey real estate in New Mexico. The deed must include the name of the grantor and the grantee as well as a legal description of the property.  The deed must be recorded with the county clerk’s office in the county where the property…

A New Mexico general warranty deed is used to convey real estate in New Mexico from one person to another. A warranty deed comes with a guarantee from the grantor, or seller, that the grantor owns the property outright, the grantor has the legal authority to sell the property, and there are no other claims…

A New Mexico quit claim deed is a legal form that can be used to convey real property, or land and buildings, from a seller (grantor) to a buyer (grantee). A quitclaim is different from a warranty deed because it comes with no guarantee. Instead, the grantor is only selling whatever interest he may own…