Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties or as owners of community property held in survivorship form, and not as tenants in common.
History: 1978 Comp., § 45-6-302, enacted by Laws 1992, ch. 66, § 38.
Structure New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 6 - Nonprobate Transfers
Part 3 - TOD SECURITY REGISTRATION
Section 45-6-301 - Definitions.
Section 45-6-302 - Registration in beneficiary form; sole or joint tenancy ownership.
Section 45-6-303 - Registration in beneficiary form; applicable law.
Section 45-6-304 - Origination of registration in beneficiary form.
Section 45-6-305 - Form of registration in beneficiary form.
Section 45-6-306 - Effect of registration in beneficiary form.
Section 45-6-307 - Ownership of [on] death of owner.
Section 45-6-308 - Protection of registering entity.
Section 45-6-309 - Nontestamentary transfer on death.
Section 45-6-310 - Terms, conditions and forms for registration.