HOW TO TRANSFER LEGAL TITLE TO YOUR HOME AND/OR LAND WITHOUT A WILL, OR THE HASSLE OF PROBATE
There’s really no smooth, funny, or positive way to introduce the topic of death into a general conversation. There might be an exception to this rule if you plan on talking about Weekend at Bernies’ or Beetlejuice – but even then you’re probably better off avoiding the topic unless your goal is to make people feel uncomfortable.
Death is an unsettling subject that most people actively avoid, but at one point we all need to address the inevitable.
This past week I had the opportunity to help a family member that recently lost her husband and is planning the distribution of her property. In doing so she needed help assuring that the title to her home would pass to her children without the potential hassle and expense of probate – probate being the process where a deceased person’s property is validated and then distributed according to one’s wishes.
New Mexico law allows the owner of real property (i.e. land or a house) to transfer that property to another person through a Transfer on Death Deed (TOD Deed). This Deed allows the owner to name the person or persons that will become the owner of the property when the owner dies. Because the Deed ultimately trumps one’s Will – assuming that one has a Will – there is no need for the property to pass through probate, and the individual named in the Deed automatically assumes legal title to the property upon the owner’s death.
Although a TOD Deed works for any real estate located in New Mexico, the piece of property is still the legal property of the owner until the owner’s death. Therefore, the owner retains complete title and control over the property until the owner dies. Because of this fact the owner can revoke (cancel), or change the terms (i.e. change or remove the individuals named on the Deed) at any time prior to the owner’s death.
To become effective the owner must sign, notarize and then record the Deed at the county clerk’s office in the county where the property is located. Therefore, if the property is located in Bernalillo county, then the owner would record the Deed at the County Clerk’s Office located on the 6th Floor of the One Civic Plaza Building, Room 6029 – (505) 243-8683.
Once the Deed has been recorded, the property owner keeps ownership and title over the property until death. At that point the individual(s) named in the Deed are required to take a certified death certificate of the owner’s death to the same county clerk’s office to be recorded. Once this occurs title to the property automatically transfers to the individual(s) named in the Deed, bypassing the need for probate.
These are the basic steps for a Transfer on Death Deed in New Mexico. Moreover, a sample Transfer on Death Deed is provided below. Nevertheless, it is always crucial for any legal document to be properly written, and it is always advisable for one to speak with an attorney before writing or executing a legal document. Please see legal disclaimer below before viewing the link to the sample Deed —
Sample Transfer on Death Deed.
(505) SANCHEZ IS HERE TO ANSWER ALL OF YOUR QUESTIONS ABOUT TRANSFER ON DEATH DEED IN ALBUQUERQUE
Do you still have questions about transfer on a death deed in Albuquerque, New Mexico? Matthew Legan Sanchez has the experience needed to handle your unique case. Sanchez can be reached by calling (505) SANCHEZ.
Transfer on death deed in Albuquerque, New Mexico.
