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

NM Stat § 45-6-412 (2019) (N/A)
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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.

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

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