A transfer on death (TOD) deed lets a New Mexico property owner name who will receive real estate at death, without probate for that property. The owner keeps full control and can change or revoke the deed during life. To work, it must be signed, notarized, and recorded with the county clerk before the owner passes away.
A TOD deed can be a simple tool for a home, but it only covers the real estate it describes. It does not name a guardian, handle your other assets, or give anyone authority to act if you become incapacitated. It also needs careful planning around what happens if a beneficiary dies first, is a minor, or has creditor or benefits issues of their own. A TOD deed can also interact with Medicaid planning and with the rest of your estate plan, so it is best reviewed with an attorney before you record it.
