Ten Reasons to Reconsider the Transfer on Death Deed

old deedA new Texas state law allows real property owners to record a “Transfer on Death Deed” which names a beneficiary to own that real property after the owner dies. Tex. Est. Code Chap. 114. New Mexico has allowed transfer on death deeds since 2013. NM Stat. 45-6-405. With a properly recorded Transfer on Death Deed, no probate is needed to transfer the real property after your death. While this strategy seems easy for the owner to carry out, we don’t recommend this legal instrument for everyone.

Click here to learn more about when you might consider using a transfer on death deed and ten reasons to reconsider the transfer on death deed in Texas and New Mexico.

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***NOTHING IN THIS ARTICLE IS TO BE CONSIDERED AS THE RENDERING OF LEGAL ADVICE FOR SPECIFIC CASES, OR CREATING AN ATTORNEY-CLIENT RELATIONSHIP, AND READERS ARE RESPONSIBLE FOR OBTAINING SUCH ADVICE FROM THEIR OWN LEGAL COUNSEL. THIS ARTICLE IS INTENDED FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY, AND NO WARRANTY OR REPRESENTATION IS MADE AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION CONTAINED HEREIN.***

 

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