New Mexico Statutes 47-1-14. [Effect of words “bargained and sold”.]
The words, bargained and sold, or words to the same effect, in all conveyances of hereditary real estate, unless restricted in express terms on the part of the person conveying the same, himself and his heirs, to the person to whom the property is conveyed, his heirs and assignees, shall be limited to the following effect:
Terms Used In New Mexico Statutes 47-1-14
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Grantor: The person who establishes a trust and places property into it.
A. that the grantor, at the time of the execution of said conveyance, is possessed of an irrevocable possession in fee simple to the property so conveyed;
B. that the said real estate, at the time of the execution of said conveyance, is free from all encumbrance made or suffered to be made by the grantor, or by any person claiming the same under him;
C. for the greater security of the person, his heirs and assignees, to whom said real estate is conveyed by the grantor and his heirs, suits may be instituted the same as if the conditions were stipulated in the said conveyance.