reglab/housing_qa huggingface dataset:
NM Stat § 45-6-411 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 6 - Nonprobate Transfers|Part 4 - UNIFORM REAL PROPERTY TRANSFER ON DEATH|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 the office of the county clerk for the county in which the deed is recorded; and (3) is: (a) a transfer on death deed that revokes the deed or part of the deed expressly or by inconsistency; (b) an instrument of revocation that expressly revokes the deed or part of the deed; or (c) an inter vivos deed that expressly revokes the transfer on death deed or part of the deed. B. If a transfer on death deed is made by more than one transferor: (1) revocation by a transferor does not affect the deed as to the interest of another transferor; and (2) a deed of joint owners is revoked only if it is revoked by all of the living joint owners. C. After a transfer on death deed is recorded, it may not be revoked by a revocatory act on the deed. D. This section does not limit the effect of an inter vivos transfer of the property. History: 1978 Comp., § 45-6-411, enacted by Laws 2013, ch. 38, § 11. ANNOTATIONSEffective dates. — Laws 2013, ch. 38, § 18 provided that Laws 2013, ch. 38, § 11 was effective January 1, 2014.
NM Stat § 45-6-412 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 6 - Nonprobate Transfers|Part 4 - UNIFORM REAL PROPERTY TRANSFER ON DEATH|Section 45-6-412 - 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. ANNOTATIONSEffective dates. — Laws 2013, ch. 38, § 18 provided that Laws 2013, ch. 38, § 12 was effective January 1, 2014.
NM Stat § 45-6-413 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 6 - Nonprobate Transfers|Part 4 - UNIFORM REAL PROPERTY TRANSFER ON DEATH|Section 45-6-413 - Effect of transfer on death deed at transferor's death.

A. Except as otherwise provided in the transfer on death deed or in Subsection B, C or D of this section or in Section 45-2-603, 45-2-702, 45-2-706, 45-2-707, 45-2-802, 45-2-803 or 45-2-804 NMSA 1978, on the death of the transferor, the following rules apply to property that is the subject of a transfer on death deed and owned by the transferor at death: (1) provided that the designated beneficiary survives the transferor, the interest in the property is transferred to the designated beneficiary in accordance with the deed; (2) the interest of a designated beneficiary that fails to survive the transferor lapses; (3) subject to Paragraph (4) of this subsection, concurrent interests are transferred to the beneficiaries in equal and undivided shares with no right of survivorship; and (4) if the transferor has identified two or more designated beneficiaries to receive concurrent interests in the property, the share of one that lapses or fails for any reason is transferred to the other, or to the others in proportion to the interest of each in the remaining part of the property held concurrently. B. Subject to Chapter 14, Article 9 NMSA 1978, a beneficiary takes the property subject to all recorded conveyances, encumbrances, assignments, contracts, mortgages, liens and other recorded interests to which the property is subject at the transferor's death. For purposes of this subsection and Chapter 14, Article 9 NMSA 1978, the recording of the transfer on death deed is deemed to have occurred at the transferor's death. C. If a transferor is a joint owner and is: (1) survived by one or more other joint owners, the property that is the subject of a transfer on death deed belongs to the surviving joint owner or owners with right of survivorship; or (2) the last surviving joint owner, the transfer on death deed is effective. D. A transfer on death deed transfers property without covenant or warranty of title even if the deed contains a contrary provision. History: 1978 Comp., § 45-6-413, enacted by Laws 2013, ch. 38, § 13. ANNOTATIONSEffective dates. — Laws 2013, ch. 38, § 18 provided that Laws 2013, ch. 38, § 13 was effective January 1, 2014.
NM Stat § 45-6-414 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 6 - Nonprobate Transfers|Part 4 - UNIFORM REAL PROPERTY TRANSFER ON DEATH|Section 45-6-414 - Disclaimer.

A beneficiary may disclaim all or part of the beneficiary's interest as provided by the Uniform Disclaimer of Property Interests Act [Chapter 45, Article 2, Part 11 NMSA 1978]. History: 1978 Comp., § 45-6-414, enacted by Laws 2013, ch. 38, § 14. ANNOTATIONSEffective dates. — Laws 2013, ch. 38, § 18 provided that Laws 2013, ch. 38, § 14 was effective January 1, 2014.
NM Stat § 45-6-415 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 6 - Nonprobate Transfers|Part 4 - UNIFORM REAL PROPERTY TRANSFER ON DEATH|Section 45-6-415 - Liability for creditor claims and statutory allowances.

A beneficiary of a transfer on death deed is liable for an allowed claim against the transferor's probate estate and statutory allowances to a surviving spouse and children to the extent provided in Section 45-6-102 NMSA 1978. History: 1978 Comp., § 45-6-415, enacted by Laws 2013, ch. 38, § 15. ANNOTATIONSEffective dates. — Laws 2013, ch. 38, § 18 provided that Laws 2013, ch. 38, § 15 was effective January 1, 2014.
NM Stat § 45-6-417 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 6 - Nonprobate Transfers|Part 4 - UNIFORM REAL PROPERTY TRANSFER ON DEATH|Section 45-6-417 - Optional form of revocation.

The following form may be used to create an instrument of revocation under the Uniform Real Property Transfer on Death Act. The provisions of the Uniform Real Property Transfer on Death Act govern the effect of this or any other instrument used to revoke a transfer on death deed. (front of form) "REVOCATION OF TRANSFER ON DEATH DEED NOTICE TO OWNER This revocation must be recorded before you die or it will not be effective. This revocation is effective only as to the interests in the property of owners who sign this revocation. || IDENTIFYING INFORMATION    || Owner or Owners of Property Making This Revocation:   || ____________________________    _____________________________   || Printed name    Mailing address   || ____________________________    _____________________________   || Printed name    Mailing address   || Legal description of the property:   || _______________________________________________________________________   || REVOCATION    || I revoke all my previous transfers of this property by transfer on death deed.   || SIGNATURE OF OWNER OR OWNERS MAKING THIS REVOCATION   || ____________________________    _____________________________   || Signature    Date   || ____________________________    _____________________________   || Signature    Date   || ACKNOWLEDGMENT    || (insert acknowledgment here)"   |(back of form) "COMMON QUESTIONS ABOUT THE USE OF THIS FORM How do I use this form to revoke a Transfer on Death (TOD) deed? Complete this form. Have it acknowledged before a notary public or other individual authorized to take acknowledgments. Record the form in the public records in the office of the county clerk of each county where the property is located. The form must be acknowledged and recorded before your death or it has no effect. How do I find the "legal description" of the property? This information may be on the TOD deed. It may also be available in the office of the county clerk for the county where the property is located. If you are not absolutely sure, consult a lawyer. How do I "record" the form? Take the completed and acknowledged form to the office of the county clerk of the county where the property is located. Follow the instructions given by the county clerk to make the form part of the official property records. If the property is located in more than one county, you should record the form in each of those counties. I am being pressured to complete this form. What should I do? Do not complete this form under pressure. Seek help from a trusted family member, friend or lawyer. I have other questions about this form. What should I do? This form is designed to fit some but not all situations. If you have other questions, consult a lawyer." History: 1978 Comp., § 45-6-417, enacted by Laws 2013, ch. 38, § 17. ANNOTATIONSEffective dates. — Laws 2013, ch. 38, § 18 provided that Laws 2013, ch. 38, § 17 was effective January 1, 2014.
NM Stat § 45-7-101 to 45-7-104 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 7 - Trust Administration|Part 1 - Principal Place Of Administration|Section 45-7-101 to 45-7-104 - Repealed.

History: 1953 Comp., § 32A-7-101, enacted by Laws 1975, ch. 257, § 7-101.ANNOTATIONSRepeals. — Laws 2003, ch. 122, § 11-1105 repealed 45-7-101 to 45-7-104 NMSA 1978, as enacted by Laws 1975, ch. 257, §§ 7-101 to 7-104, relating to the principal place of administration, effective July 1, 2003. For provisions of former sections, see the 2002 NMSA 1978 on NMOneSource.com.
NM Stat § 45-7-105 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 7 - Trust Administration|Part 1 - Principal Place Of Administration|Section 45-7-105 - Registration; qualification of foreign trustee.

A. A foreign corporate trustee is required to qualify as a foreign corporation doing business in New Mexico if it maintains the principal place of administration of any trust within the state. A foreign corporate cotrustee is not required to qualify in New Mexico solely because its cotrustee maintains the principal place of administration in New Mexico. Unless otherwise doing business in New Mexico, local qualification by a foreign trustee, corporate or individual, is not required in order for the trustee to receive distribution from a local estate or to hold, invest in, manage or acquire property located in this state, or maintain litigation. B. Nothing in this section affects a determination of what other acts require qualification as doing business in New Mexico. History: 1953 Comp., § 32A-7-105, enacted by Laws 1975, ch. 257, § 7-105. ANNOTATIONSCross references. — For application for certificate of authority for foreign corporation to do business in state, see 53-17-5 NMSA 1978. For transacting business without certificate of authority, see 53-17-20 NMSA 1978. Law reviews. — For survey, "Article VII of the New Probate Code: In Pursuit of Uniform Trust Administration," see 6 N.M.L. Rev. 213 (1976). Am. Jur. 2d, A.L.R. and C.J.S. references. — 76 Am. Jur. 2d Trusts §§ 324, 329. 90 C.J.S. Trusts §§ 204 to 210.
NM Stat § 45-7-201 to 45-7-206 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 7 - Trust Administration|Part 2 - Jurisdiction Of Court Concerning|Section 45-7-201 to 45-7-206 - Repealed.

History: 1953 Comp., § 32A-7-201, enacted by Laws 1975, ch. 257, § 7-201.ANNOTATIONSRepeals. — Laws 2003, ch. 122, § 11-1105 repealed 45-7-201 to 45-7-206 NMSA 1978, as enacted by Laws 1975, ch. 257, §§ 7-201 to 7-206, relating to jurisdiction of court concerning trusts, effective July 1, 2003. For provisions of former sections, see the 2002 NMSA 1978 on NMOneSource.com.
NM Stat § 45-7-301 to 45-7-307 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 7 - Trust Administration|Part 3 - Duties And Liabilities Of Trustees|Section 45-7-301 to 45-7-307 - Repealed.

History: 1953 Comp., § 32A-7-301, enacted by Laws 1975, ch. 257, § 7-301.ANNOTATIONSRepeals. — Laws 2003, ch. 122, § 11-1105 repealed 45-7-301 to 45-7-307 NMSA 1978, as enacted by Laws 1975, ch. 257, §§ 7-301 to 7-307, relating to duties and liabilities of trustees, effective July 1, 2003. For provisions of former sections, see the 2002 NMSA 1978 on NMOneSource.com.
NM Stat § 45-7-401 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 7 - Trust Administration|Part 4 - Powers Of Trustees|Section 45-7-401 - Repealed.

History: 1953 Comp., § 32A-7-401, enacted by Laws 1975, ch. 257, § 7-401; 1987, ch. 66, § 1.ANNOTATIONSRepeals. — Laws 2003, ch. 122, § 11-1105 repealed 45-7-401 NMSA 1978, as enacted by Laws 1975, ch. 257, § 7-401, relating to powers of trustees, effective July 1, 2003. For provisions of former section, see the 2002 NMSA 1978 on NMOneSource.com.
NM Stat § 45-7-501 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 7 - Trust Administration|Part 5 - Custodial Trusts|Section 45-7-501 - Short title.

Sections 45-7-501 through 45-7-522 NMSA 1978 may be cited as the "Uniform Custodial Trust Act". History: 1978 Comp., § 45-7-501, enacted by Laws 1992, ch. 66, § 48. ANNOTATIONSLaw reviews. — For article, "The New Mexico Uniform Trust Code," see 34 N.M.L. Rev. 1 (2004).
NM Stat § 45-7-502 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 7 - Trust Administration|Part 5 - Custodial Trusts|Section 45-7-502 - Definitions.

As used in the Uniform Custodial Trust Act [45-7-501 to 45-7-522 NMSA 1978]: A. "adult" means an individual who is at least eighteen years of age; B. "beneficiary" means an individual for whom property has been transferred to or held under a declaration of trust by a custodial trustee for the individual's use and benefit under the Uniform Custodial Trust Act; C. "conservator" means a person appointed or qualified by a court to manage the estate of an individual or a person legally authorized to perform substantially the same functions; D. "court" means the district court of this state; E. "custodial trust property" means an interest in property transferred to or held under a declaration of trust by a custodial trustee under the Uniform Custodial Trust Act and the income from and proceeds of that interest; F. "custodial trustee" means a person designated as trustee of a custodial trust under the Uniform Custodial Trust Act or a substitute or successor to the person designated; G. "guardian" means a person appointed or qualified by a court as a guardian of an individual, including a limited guardian, but not a person who is only a guardian ad litem; H. "incapacitated" means lacking the ability to manage property and business affairs effectively by reason of mental illness, mental deficiency, physical illness or disability, chronic use of drugs, chronic intoxication, confinement, detention by a foreign power, disappearance, minority or other disabling cause; I. "legal representative" means a personal representative or conservator; J. "member of the beneficiary's family" means a beneficiary's spouse, descendant, stepchild, parent, stepparent, grandparent, brother, sister, uncle or aunt, whether of the whole or half blood or by adoption; K. "person" means an individual, corporation, business trust, estate, trust, partnership, joint venture, association or any other legal or commercial entity; L. "personal representative" means an executor, administrator or special administrator of a decedent's estate, a person legally authorized to perform substantially the same functions or a successor to any of them; M. "state" means a state, territory or possession of the United States, the district of Columbia or the commonwealth of Puerto Rico; N. "transferor" means a person who creates a custodial trust by transfer or declaration; and O. "trust company" means a financial institution, corporation or other legal entity authorized to exercise general trust powers. History: 1978 Comp., § 45-7-502, enacted by Laws 1992, ch. 66, § 49.
NM Stat § 45-7-503 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 7 - Trust Administration|Part 5 - Custodial Trusts|Section 45-7-503 - Custodial trust; general.

A. A person may create a custodial trust of property by a written transfer of the property to another person, evidenced by registration or by other instrument of transfer, executed in any lawful manner, naming as beneficiary an individual who may be the transferor, in which the transferee is designated, in substance, as custodial trustee under the Uniform Custodial Trust Act [45-7-501 to 45-7-522 NMSA 1978]. B. A person may create a custodial trust of property by a written declaration, evidenced by registration of the property or by other instrument of declaration executed in any lawful manner, describing the property and naming as beneficiary an individual other than the declarant, in which the declarant as titleholder is designated, in substance, as custodial trustee under the Uniform Custodial Trust Act. A registration or other declaration of trust for the sole benefit of the declarant is not a custodial trust under that act. C. Title to custodial trust property is in the custodial trustee and the beneficial interest is in the beneficiary. D. Except as provided in Subsection E of this section, a transferor may not terminate a custodial trust. E. The beneficiary, if not incapacitated, or the conservator of an incapacitated beneficiary, may terminate a custodial trust by delivering to the custodial trustee a writing signed by the beneficiary or conservator declaring the termination. If not previously terminated, the custodial trust terminates on the death of the beneficiary. F. Any person may augment existing custodial trust property by the addition of other property pursuant to the Uniform Custodial Trust Act. G. The transferor may designate, or authorize the designation of, a successor custodial trustee in the trust instrument. H. The Uniform Custodial Trust Act does not displace or restrict other means of creating trusts. A trust whose terms do not conform to that act may be enforceable according to its terms under other law. History: 1978 Comp., § 45-7-503, enacted by Laws 1992, ch. 66, § 50.
NM Stat § 45-7-504 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 7 - Trust Administration|Part 5 - Custodial Trusts|Section 45-7-504 - Custodial trustee for future payment or transfer.

A. A person having the right to designate the recipient of property payable or transferable upon a future event may create a custodial trust upon the occurrence of the future event by designating in writing the recipient, followed in substance by: "as custodial trustee for __________________ (name of beneficiary) under the Uniform Custodial Trust Act". B. Persons may be designated as substitute or successor custodial trustees to whom the property must be paid or transferred in the order named if the first designated custodial trustee is unable or unwilling to serve. C. A designation under this section may be made in a will, a trust, a deed, a multiple-party account, an insurance policy, an instrument exercising a power of appointment or a writing designating a beneficiary of contractual rights. Otherwise, to be effective, the designation must be registered with or delivered to the fiduciary, payor, issuer or obligor of the future right. History: 1978 Comp., § 45-7-504, enacted by Laws 1992, ch. 66, § 51.
NM Stat § 45-7-505 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 7 - Trust Administration|Part 5 - Custodial Trusts|Section 45-7-505 - Form and effect of receipt and acceptance by custodial trustee; jurisdiction.

A. Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under the Uniform Custodial Trust Act [45-7-501 to 45-7-522 NMSA 1978] upon the custodial trustee's acceptance, express or implied, of the custodial trust property. B. The custodial trustee's acceptance may be evidenced by writing stating in substance: "CUSTODIAL TRUSTEE'S RECEIPT AND ACCEPTANCE I, __________ (name of custodial trustee) acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for __________ (name of beneficiary) under the Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the Uniform Custodial Trust Act. My obligations as custodial trustee are subject to the directions of the beneficiary unless the beneficiary is designated as, is or becomes incapacitated. The custodial trust property consists of __________. (Dated:)________________________________________ ________________________________________________________________________ ". (Signature of Custodial Trustee) C. Upon accepting custodial trust property, a person designated as custodial trustee under the Uniform Custodial Trust Act is subject to personal jurisdiction of the court with respect to any matter relating to the custodial trust. History: 1978 Comp., § 45-7-505, enacted by Laws 1992, ch. 66, § 52.
NM Stat § 45-7-506 (2021)
2021 New Mexico Statutes|Chapter 45 - Uniform Probate Code|Article 7 - Trust Administration|Part 5 - Custodial Trusts|Section 45-7-506 - Transfer to custodial trustee by fiduciary or obligor; facility of payment.

A. Unless otherwise directed by an instrument designating a custodial trustee pursuant to Section 45-7-504 NMSA 1978, a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator may make a transfer to an adult member of the beneficiary's family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds twenty thousand dollars ($20,000), the transfer is not effective unless authorized by the court. B. A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section. History: 1978 Comp., § 45-7-506, enacted by Laws 1992, ch. 66, § 53.