Transfer On Death Deeds (TODDs)
New Mexico offers an estate planning tool called a Transfer on Death Dead. This process involves signing a new deed for your house. This new deed is called a “transfer on death deed”. You sign the deed before a notary public, have it recorded at the court house in the county where your property is located, and then upon your death, the deed automatically transfers your real estate to whomever you named as beneficiary in the deed. This automatic transfer prevents the house or land from having to go through the probate process, thus avoiding delay and cost of probate.
This Revocable Transfer-on-Death Beneficiary Deed, can be revoked. Although the
Beneficiaries are named in a Revocable Transfer-on-Death Beneficiary Deed, they have no
ownership rights to the home until after the death of the homeowner.