Effect of transfer on death deed during transferor's life.

1. Law
2. New Mexico Statutes
3. Uniform Probate Code
4. Nonprobate Transfers
5. UNIFORM REAL PROPERTY TRANSFER ON DEATH
6. 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.

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

ANNOTATIONS

Effective dates. — Laws 2013, ch. 38, § 18 provided that Laws 2013, ch. 38, § 12 was effective January 1, 2014.

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