Nontestamentary transfer on death.

  1. Law
  2. New Mexico Statutes
  3. Uniform Probate Code
  4. Nonprobate Transfers
  5. TOD SECURITY REGISTRATION
  6. Nontestamentary transfer on death.

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A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and Sections 45-6-301 through 45-6-311 NMSA 1978 and is not testamentary.

History: 1978 Comp., § 45-6-309, enacted by Laws 1992, ch. 66, § 45; 2005, ch. 143, § 4.

ANNOTATIONS

The 2005 amendment, effective July 1, 2005, deleted former Subparagraph B that provided that Sections 45-6-301 to 45-6-311 NMSA 1978 do not limit the rights of creditors of security owners against beneficiaries and other transferees.


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