Prepare a Deed of Trust for a New Mexico real estate purchase with this downloadable template form.
- A Deed of Trust is used in place of a mortgage as security to repay a purchase loan for real property (except for agricultural farm land).
- The title deed is conveyed by the purchaser (borrower) to a trustee, who holds it on behalf of the lender to secure the borrower's repayment of the debt under the promissory note and performance of the borrower's obligations under the Deed of Trust.
- If the borrower defaults, the balance becomes due and payable and the lender may foreclose and cause the trustee to sell the property.
- The Deed of Trust includes standard covenants as required under federal laws.
- The redemption period after judicial or non-judicial sale of the property is set at one month.
- If the borrower is in default, the lender has the right to appoint a receiver over the property.
This New Mexico Deed of Trust
form is available in Microsoft Word format. We can convert it into another format if you require.