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§ 45-6-216 NMSA 1978

Community property

Known as the Uniform Real Property Transfer on Death Act

The act spans §§ 45–45 (61 sections).

1978 Comp., § 45-6-216, enacted by Laws 1992, ch. 66, § 29; 1993, ch. 174, § 83; 2011, ch. 124, § 85.

A. A deposit of community property in an account does not alter the community character of the property or community rights in the property, if any, but a right of survivorship between parties married to each other arising from the express terms of the account or Section 45-6-212 NMSA 1978 may not be altered by will or other governing instrument.

B. This section does not affect or limit the right of a financial institution to make payments pursuant to Sections 45-6-211 through 45-6-227 NMSA 1978 and the deposit agreement.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.