Property Ownership
In New Mexico, a 'living trust' (revocable inter vivos trust) used to hold real property allows the property owner to:
AAvoid all property taxes
BTransfer property to heirs at death without probate while retaining control during their lifetime✓ Correct
CSell property without a deed
DShield the property from all creditors
Explanation
A revocable living trust holds title to property during the owner's lifetime (they retain control as trustee) and transfers it to beneficiaries at death without probate—a key estate planning tool.
Related New Mexico Property Ownership Questions
- In New Mexico, which instrument would most clearly demonstrate that a previous deed of trust has been satisfied?
- In New Mexico, a 'covenant running with the land' binds:
- In New Mexico, water rights are critical because the state follows the doctrine of:
- In New Mexico, which form of ownership gives each co-owner a right of survivorship?
- In New Mexico, a condominium owner holds:
- Which form of concurrent ownership in New Mexico does NOT include a right of survivorship?
- Which type of deed provides the least protection to the grantee?
- New Mexico is a community property state. Under this doctrine, property acquired during marriage is generally:
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