N.M. Stat. § 45-6-412

Current through 2024, ch. 69

Section 45-6-412 - Effect of transfer on death deed during transferor's life

During a transferor's life, a transfer on death deed does not:

A. affect an interest or right of the transferor or any other owner, including the right to transfer or encumber the property;

B. affect an interest or right of a transferee, even if the transferee has actual or constructive notice of the deed;

C. affect an interest or right of a secured or unsecured creditor or future creditor of the transferor, even if the creditor has actual or constructive notice of the deed;

D. affect the transferor's or designated beneficiary's eligibility for any form of public assistance;

E. create a legal or equitable interest in favor of the designated beneficiary; or

F. subject the property to claims or process of a creditor of the designated beneficiary.

NMS § 45-6-412

1978 Comp., § 45-6-412, enacted by Laws 2013, ch. 38, § 12.

Added by 2013, c. 38,s. 12, eff. 1/1/2014.