New Mexico Statutes 45-6-216. Community property
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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 N.M. Stat. Ann. may not be altered by will or other governing instrument.
Terms Used In New Mexico Statutes 45-6-216
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
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 N.M. Stat. Ann. and the deposit agreement.