On January 1, 2014, New Mexico joined with eleven other states to enact the Uniform Real Property Transfer on Death Act (URPTODA), found at Sections 45-6-401 through 45-6-417 NMSA 1978 (2014). This updated law enhances and adds clarity to the previous transfer on death statute already in force in the state.
Real estate owners who record a transfer on death deed (TODD) under the URPTODA retain the ability to revoke the recorded conveyance. These deeds offer a potential future interest but no guarantee of anything; the beneficiary only gains title to the property rights present when the owner dies.
Why does revocability matter? Life is unpredictable. For example, the original beneficiary may become unable or unwilling to accept the property. Marriage or divorce could alter the nature of the relationship between the owner and the intended recipient. The owner/transferor might decide to use the land another way. Regardless of the reason, the ability to cancel or modify a recorded TODD without involving the courts or restructuring their entire estate plan lets owners resolve unexpected issues in a relatively simple way.
There are three primary methods for revoking a transfer on death deed, as defined in the New Mexico Statutes at 45-6-411.
The named transferor may execute and record:
1. a statutory revocation form;
2. a new transfer on death deed that revokes all or part of a previously recorded TODD; or
3. an inter vivos deed (such as a warranty or quitclaim deed) that expressly revokes all or part of a previously recorded TODD.
Timely recording is essential for all documents dealing with ownership of real property, but it is even more important for documents associated with transfers at death. Just as with a TODD, the revocation must be recorded during the owner's life in the office of the clerk for the county in which the deed is recorded or it has no effect.
In addition to the reasons discussed above, consider filing a revocation form prior to selling real estate previously identified in a recorded transfer on death deed. Documenting the change helps to maintain a clear chain of title (ownership history) by closing out what might otherwise look like a potential claim against the property. A clear chain of title makes future transactions involving the property less complicated.
The right to revoke or modify a recorded transfer on death deed adds flexibility to a comprehensive estate plan. Executing and recording a statutory revocation form allows owners of New Mexico real estate to control the distribution of their property at death without the need for a will or probate. Each circumstance is unique, so contact an attorney with specific questions or for complex situations.
Deeds.com New Mexico Transfer on Death Revocation Forms Have Been Updated as Recently as Friday February 15, 2019
What others like you are saying:
February 18th, 2019
Name: Lisa G.
Review: Form and info was good
Reply from Staff on February 18th, 2019
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
February 16th, 2019
Name: Lindsay B.
Review: The form was easy to fill out. The only problem I had was on the Notary page I live in a different state than the property and I couldn't change the name of the state or county where the notary had to sign.
Reply from Staff on February 16th, 2019
Thanks Lindsay, we appreciate your feedback.
January 7th, 2019
Name: Teri B.
Review: Glad to have all of the helpful extra information, even though they don't answer all questions for all situations. So, I accessed public records and asked questions at the auditor's office. Also, on my Mac computer, filling out the actual deed form is a challenge because the screen jumps to the last page everytime I try to type a few letters or hit the return key, so I'm rollling back up to the first 2 pages after most keystrokes. A bit annoying. Overall, happy to have these form options are available! There is really no need to wait and pay for an attorney when all the information needed is available via public records. Fill in the blanks!
Reply from Staff on January 7th, 2019
Thanks so much for the feedback Teri. There are known issues between Adobe and Mac, we try to work around them as much as possible. Have a wonderful day!
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