Property Ownership
In New Mexico, when a married couple takes title as 'community property with right of survivorship,' at the death of one spouse:
AThe deceased spouse's half goes to their heirs
BThe surviving spouse automatically receives full ownership without probate✓ Correct
CThe property must go through probate
DThe property reverts to the state
Explanation
Community property with right of survivorship, established by New Mexico statute, allows the surviving spouse to receive full ownership automatically upon the other spouse's death, avoiding probate.
Related New Mexico Property Ownership Questions
- In New Mexico, the bundle of rights concept means that property ownership includes the rights to:
- In New Mexico, an 'executory interest' in real property is a future interest that:
- New Mexico is divided into sections under the Public Land Survey System (rectangular survey). How many acres are in a section?
- In New Mexico, when a married couple holds real property as community property, which statement is generally TRUE?
- In New Mexico, which instrument creates a lien on real property without transferring ownership?
- Which of the following is a characteristic of tenancy in common?
- In New Mexico, which doctrine states that the owner of surface land owns everything above and below the surface to the extent allowed by law?
- New Mexico is a community property state. Under community property law, property acquired during marriage is generally owned:
Practice More New Mexico Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Mexico Quiz →