Resources
Title and escrow have their own vocabulary, and most of it is unnecessary. These are the questions we are asked most, answered the way we would answer them on the phone.
- What does title insurance actually cover?
- Loss from problems that already existed when you took ownership: an undisclosed lien, a forged or improperly executed deed, a recording error, an heir nobody knew about, unpaid taxes, an easement that never made it into the file. An owner’s policy protects your equity for as long as you hold an interest in the property. A lender’s policy protects the lender’s loan balance and does nothing for you.
- What is the difference between title and escrow?
- Title is the question of who owns the property and what is attached to it. Escrow is the neutral process of holding the money and the documents until the conditions of the sale are met. We do both, which means one file and one team instead of two companies coordinating with each other.
- Who pays for title insurance, and what does it cost?
- Who pays is negotiable and set by the purchase agreement — locally the seller commonly pays for the owner’s policy and the buyer pays for the lender’s, but the contract controls and you will know the split well before signing. The cost is not negotiable: New Mexico is one of the few states where title insurance rates are set by the Office of Superintendent of Insurance, so the premium is identical at every title company. What differs is the examination behind it and how the file is run.
- Do I own the mineral rights under my property?
- Very often, no. Surface and mineral estates were separated on a great deal of ground in this county decades ago, and the minerals usually did not travel with the surface after that. You may also find oil and gas leases, pipeline easements and rights of way of record. We tell you what the record shows before closing rather than letting you find out later — and if minerals matter to your plans for the property, say so early so we look with that in mind.
- What is a title commitment, and do I need to read it?
- Yes. The commitment lists who holds title today, the legal description, and everything of record attached to the property — loans, liens, easements, restrictions. It is the list of what has to be cleared before closing. Read it and ask about anything you do not recognise. It arrives at the point where a problem is still cheap to solve.
- How long does a closing take?
- A residential purchase usually runs 30 to 45 days from opening to recording, and the lender sets most of that pace. Cash purchases can close in one to two weeks. Refinances typically run two to four weeks. A file with a title problem takes as long as the problem takes, which is why we look for them in the first week.
- What do I bring to signing?
- A current government-issued photo ID for every person going on title, and certified or wired funds for your closing figure. If you hold title through a trust or an entity, we need the trust certification or entity documents in advance — not on the day.
- How do I protect myself from wire fraud?
- Treat every email containing wiring instructions as fraudulent until you have confirmed it by voice. We will never email you instructions or a change to them. Call our office at a number you looked up independently — never one from an email or a caller ID — and confirm with someone you have spoken to before. This is the single largest financial risk in your transaction, and the money is rarely recoverable.
- Can you handle vacant land?
- Yes, and it deserves more scrutiny than an improved property, not less. Legal access is the first question and often the hardest: driving across a neighbour’s ground for thirty years is not the same as a recorded easement, and no lender will treat it as one. Access here frequently crosses federal or state trust land, which needs a recorded grant. Add severed minerals, water rights, and back taxes, and the search is most of the work.
- Does water come with the land?
- Not automatically. In New Mexico water rights are separate property and do not pass with the deed on their own — they have to be conveyed deliberately, and a transfer is filed with the State Engineer. Irrigated acreage also carries ditch assessments that continue whether or not the water is used. If you are buying land expecting to irrigate it, tell us before closing, not after.
- Do I have to use the title company the other side chose?
- No. The choice is negotiable and frequently written into the contract without much thought. If you would prefer to work with us, say so before the contract is signed — it is far simpler than moving a file afterward.
- What happens if something is wrong with the title?
- We tell you what we found, what it takes to clear it, who has to act, and how long it should take — then we work it. Most problems are ordinary and fixable: a paid-off loan that was never released, a name that does not match, an estate that was never completed. The ones that are not fixable are worth knowing about before you buy, which is the point of looking.
Ask us directly
Whether or not the file is ours. We would rather answer a question now than have it surface a week before closing.
(505) 555-0100