A deed in substance following the form entitled "warranty deed" in the appendix to this act [47-1-44 NMSA 1978] shall, when duly executed, have the force and effect of a deed in fee simple to the grantee, his heirs and assigns, to his and their own use, with covenants on the part of the grantor for himself, his heirs, executors, administrators and successors, with the grantee, his heirs, successors and assigns, as specified in the definition of "warranty covenants" in Section 10 [47-1-37 NMSA 1978] of this act.
History: 1941 Comp., § 75-128, enacted by Laws 1947, ch. 203, § 3; 1953 Comp., § 70-1-28.
Deed restrictions. — Where the defendant purchased a vacation cabin burdened with deed restrictions, which provided that the property shall be used for dwelling purposes only and that no part of the property shall be used for business or commercial purposes; the defendant rented the cabin for more days than the defendant used the cabin; the defendant received substantial rental fees; and the defendant contracted with a property management company to advertise and manage the rental of the cabin, the rental of the cabin for dwelling purposes was a permitted use under the deed restrictions and was not a use for business or commercial purposes. Mason Family Trust v. DeVaney, 2009-NMCA-048, 146 N.M. 199, 207 P.3d 1176.
Law reviews. — For note, "Vendor and Purchaser - Increased Risks of Forfeiture and Malpractice Resulting from the Use of Real Estate Contracts: Albuquerque National Bank v. Albuquerque Ranch Estates, Inc.," see 15 N.M.L. Rev. 99 (1985).
Am. Jur. 2d, A.L.R. and C.J.S. references. — 26 C.J.S. Deeds §§ 1, 22.
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