Section 45-6-409 – Requirements.
A transfer on death deed shall: A. contain the essential elements and formalities of a properly recordable inter vivos deed; B. state that the transfer to the designated beneficiary is to occur at the transferor’s death; and C. be recorded before the transferor’s death in the public records in the office of the county clerk […]
Section 45-6-410 – Notice, delivery, acceptance or consideration not required.
A transfer on death deed does not require: A. notice or delivery to or acceptance by the designated beneficiary during the transferor’s life; or B. consideration. History: 1978 Comp., § 45-6-410, enacted by Laws 2013, ch. 38, § 10. ANNOTATIONS Effective dates. — Laws 2013, ch. 38, § 18 provided that Laws 2013, ch. 38, […]
Section 45-6-411 – Revocation by instrument authorized; revocation by act not permitted.
A. Subject to Subsection B of this section, an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument: (1) is acknowledged by the transferor after the acknowledgment of the deed being revoked; (2) is recorded before the transferor’s death in the public records in […]
Section 45-6-402 – Definitions.
As used in the Uniform Real Property Transfer on Death Act: A. “beneficiary” means a person that receives property under a transfer on death deed; B. “designated beneficiary” means a person designated to receive property in a transfer on death deed; C. “essential elements” means the names of the grantor and the grantee, a clause […]
Section 45-6-403 – Applicability.
The Uniform Real Property Transfer on Death Act applies to a transfer on death deed made before, on or after January 1, 2014 by a transferor dying on or after January 1, 2014. History: 1978 Comp., § 45-6-403, enacted by Laws 2013, ch. 38, § 3. ANNOTATIONS Effective dates. — Laws 2013, ch. 38, § […]
Section 45-6-404 – Nonexclusivity.
The Uniform Real Property Transfer on Death Act does not affect any method of transferring property otherwise permitted under the laws of New Mexico. History: 1978 Comp., § 45-6-404, enacted by Laws 2013, ch. 38, § 4. ANNOTATIONS Effective dates. — Laws 2013, ch. 38, § 18 provided that Laws 2013, ch. 38, § 4 […]
Section 45-6-303 – Registration in beneficiary form; applicable law.
A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity’s principal office, the office of its transfer agent or its office making the registration or by this or a […]
Section 45-6-304 – Origination of registration in beneficiary form.
A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners. History: 1978 Comp., § 45-6-304, enacted by Laws 1992, ch. 66, § 40.
Section 45-6-305 – Form of registration in beneficiary form.
Registration in beneficiary form may be shown by the words “transfer on death” or the abbreviation “TOD”, or by the words “pay on death” or the abbreviation “POD”, after the name of the registered owner and before the name of a beneficiary. History: 1978 Comp., § 45-6-305, enacted by Laws 1992, ch. 66, § 41.
Section 45-6-306 – Effect of registration in beneficiary form.
The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then surviving owners without the consent of the beneficiary. History: 1978 Comp., […]