Frequently Asked Questions (FAQ)

What does title insurance insure?

Title insurance insures as of the date of the policy against loss or damage, not exceeding the amount of the policy, sustained or incurred by reason of four things:

  1.  Title to the estate or interest being vested other than as stated
  2. Any defect in or lien or encumbrance on the title, not disclosed in the policy
  3. Unmarketable Title, “that there are no substantive problems with title that a typical, informed consumer would not buy the property” (title problems only – not valuation or property condition)
  4. Lack of a right of (legal) access to and from the land

This topic is covered in the CE class “Why Title Insurance” along with  learning the differences in the essential coverages of various title insurance products, understanding the value of title insurance and why there are extended coverages offered. 

What is a Lien?

“A lien is a charge imposed on specific property, by which it is made security for the performance of an act.”  NMSA 1978 § 48-2-1

This topic is covered in the CE class Mechanics’ and Materialmen’s Liens:  Law and Strategy.   Informative class which will help you to understand the concept and risk of the liens, how a lien may have ramifications of lost or broken priority, liens and various types of transactions

is a Quitclaim Deed the same as a Warranty Deed?

No, they do not provide the same assurances: 

  1. Provides no warranty provisions or covenants  (§47-1-30)  
  2. Conveys only what the seller has at the present time, if anything.
  3. Typical “clean-up” deed
  4. No after-acquired provisions

This topic is covered in the CE class  “The Do’s and Don’ts of Transferring Title to Real Property.  Informative class that will help you to recognize the various deeds used, understanding the various other methods of acquiring title and to become familiar with the correct and incorrect method of acquiring and conveyance of title.