The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner's death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then surviving owners without the consent of the beneficiary.
§ 45-6-306 NMSA 1978
Effect of registration in beneficiary form
Known as the Uniform Real Property Transfer on Death Act
The act spans §§ 45–45 (61 sections).
1978 Comp., § 45-6-306, enacted by Laws 1992, ch. 66, § 42.
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.