How to Access Property Records in New Mexico

What Information Can You Find in New Mexico Property Records?

During a property history search, you can learn a lot about a property and its current and past owners. You might be surprised at how much detail is available. You may have to consult various types to get the whole story, but it is well worth it.

Some of the things that a property history search may reveal include:

Deeds and Conveyance Records

Deeds are the most common type of property record. They transfer ownership of real property and often include easements, covenants, maps, and plats. They also verify property ownership when needed. Your deed is a valuable document; keep it safe.

All parties must sign deeds, and a notary must witness them. Some of the information contained in deeds includes:

• Name of the Seller/Grantor and Buyer/Grantee.
• A detailed description of the property.
• Maps and plats along with boundaries and sometimes surveys showing the acreage and edges of the property.
• Conveyance language explaining the ownership transfer from one person or entity to another.
• Notarization and execution are at the bottom, where everyone signs to make it legal.

Much of the language contained in deeds refers to the warranty implied or specified and the conveyance of the land from one or more parties to another.

Property Tax Records

Property taxes pay for road maintenance, schools, government officer's salaries, police, fire, and EMTs. Every county sets its own tax rate, and each homeowner must pay their fair share. Local county tax assessors determine the value of each home and set the tax rate. Local county tax collectors bill homeowners each year. If you fail to pay your annual taxes, the county can put a lien on the property and eventually foreclose.

New Mexico has relatively low property taxes, with a median effective tax rate of 0.73%. That means the average homeowner pays around $1,557 in taxes each year.

The following information may appear in a property tax record in New Mexico:

• Property Value - The document should show the property's value as determined by an assessor. The value is important in determining the taxes owed.
• Tax Rate - The record should identify the taxing jurisdiction of the property and the tax rate.
• Methods of Paying - The record should include information on how to contribute to the taxes, the minimum contribution amount, and how frequently the payments should be made.
• Property Description - The document should include a property description. It could be a full legal description or a general one.
• Owner's Name - The document must outline the property owner (s) name and address.

Building Permits and Regulations in New Mexico

Building permits are handled at the town/city level in New Mexico. Each city's department of development or building inspector will have a process for applying for a building permit. Building permits are required to build new, renovate, upgrade, and demolish buildings. The New Mexico government has a guide on building permits that you might find helpful.

Property Liens and Encumbrances in New Mexico

Encumbrances like liens can be detrimental to the property and its owners. Too many liens and the property values drop. Since liens are public records, the owner's financial reputation may also suffer. There are two main types of liens: voluntary and involuntary.

Voluntary Liens

Voluntary liens are those that you control. You willingly choose to use your home as collateral to secure a loan. The lender puts a lien on the property to protect itself, and if you default on the loan, they can foreclose and sell it to get their money back.

• Mortgage Liens - Mortgage liens are very common and not necessarily damaging. When you take out a mortgage, you agree to let the bank put a lien on the home in return for lending you the money. That lien will remain active until you pay off the loan.

  A mortgage in New Mexico normally includes the following information:

  • Parties of the Mortgage - The mortgage paperwork specifies the borrower's (mortgagor's) and lender's (mortgagee's) names and contact information.
  • Property Description - The mortgage contains a complete description of the mortgaged property, including its address, legal description, and any applicable identifiers.
  • Loan Terms - The mortgage must outline the loan's terms and circumstances, such as the loan amount, interest rate, repayment schedule, and any applicable fees or penalties.
  • Rights and Obligations - The agreement states both the borrower's and the lender's rights and obligations, such as the borrower's obligation to make regular mortgage payments and the lender's right to foreclose on the property in the event of failure.

Involuntary Liens

Involuntary liens are those which you do not choose. They are imposed against your will because you have failed to pay a debt. These types of liens frequently lead to foreclosure and the loss of your home.

• Mechanic's Liens - Material suppliers, laborers, landscapers, and contractors can use a mechanic's lien if a homeowner does not pay them for materials or work performed on the property. In New Mexico, the person has only 20 days from supplying the last materials or labor to file for a mechanic's lien. If not paid within 90 days, the contractor can sue the homeowner in court and foreclose to get paid.
• Tax Liens - Everyone must pay annual property taxes. If you fail to pay your property taxes, the county can put a tax lien on your property. Eventually, they will foreclose and sell your house to the highest bidder at auction. Typically, they sell foreclosure houses for far less than fair market value.
• Judgment Liens - Creditors use judgment liens to get paid a debt you owe. They must take you to court and sue. Once they win, they can foreclose and sell your property to get paid back.

The Process of Property Liens in New Mexico

There are different procedures for putting a lien on a property depending on the type of lien. Here is a breakdown of filing for a mechanic's lien in New Mexico:

• Like most states, claimants must send a preliminary notice before recording the lien. It is considered the first step in the lien process. The second stage is filling out the lien form. A lien form in New Mexico should include the amount owed, a description of the work done or supplies provided with the first and last dates, the name and address of the property owner, a description of the property, and the claimant's name and contacts. The lien form should also come with a copy of the contract or outline the terms of the contract.
• The third step is filing the lien at the County Clerk's office. The best method is to file in person, as the offices have strict requirements and fees. Some counties allow e-recording, but the claimant should have the right fees and requirements.
• After filing, the claimant has the right to enforce the lien. New Mexico does not require claimants to serve the lien to the property owner as filing suffices. The claimant has two years to enforce the lien.

Easements and Covenants

Easements and covenants often accompany deeds. They dictate specific uses of the land. Easements are rights of way that allow someone other than the owner to access the property. For example, if a wireless company installs towers on private land, it can access the towers to maintain them without first asking the owner. If the owner sells the land, any new owners must respect the arrangement.

Covenants are rules about how a property may be used. You see these in condo developments and gated communities. An example might be how common grounds can be used. No one owner would be able to have a party in a jointly owned field without permission from everyone else.

Plats and Surveys

Plats and surveys are types of maps; they differ slightly. Plats contain the boundaries of all neighboring properties, whereas surveys show only the boundaries of the target property.

A standard survey should include information such as:

Property Description - A legal description of the property may be included in the survey, including information such as lot numbers, section, township, range, and other pertinent identifying data that uniquely identify the property.

• Boundary Lines - The survey document will show the property's boundary lines. It provides property corner measurements, specific positions, and angles and distances between them.
• Monuments and Markers - The document may include information about existing monuments or markers on or near the property lines. Monuments are tangible reference points for determining property boundaries, such as metal pins, concrete markers, or natural features.
• Physical Features - The survey may note significant physical features on or near the property, such as buildings, fences, water bodies, roads, or other prominent landmarks. These elements provide context and visually depict the property's boundaries.
• Encroachments or Easements - The survey may include any encroachments or easements that impact the land. Encroachments are structures or improvements from surrounding properties that extend beyond the property's limits. In contrast, easements are rights provided to others for specified uses, such as access or utilities.

Property Descriptions and Boundaries in New Mexico

You probably don't think about the legal property description. Every piece of real property has a legal description. It contains map coordinates for the exact location and a written description, including natural landmarks, so you can find them easily.

Surveys are special processes that measure land and derive the exact boundaries. They are used before building new construction, installing utilities, and in boundary disputes.

A boundary dispute occurs when one party believes another is trespassing on their land across boundaries. These can get heated and end up in court. To resolve the issue, a judge hires professional surveyors to measure the land and establish precisely where the boundaries lie.

Foreclosures

Foreclosures are serious business and appear in public property records. They can complicate the sale of a property and lower its value. Many regular buyers won't want to deal with the hassles of buying a foreclosure home. However, investors sometimes look for them.

Pre-foreclosure homes mean they have not yet been sold at auction. These homes are very attractive to investors who want to buy a home cheaply and sell it for a profit. They offer the owner a low price (less than fair market value) to help them get out of debt and avoid foreclosure while making some money.