New Mexico Statutes 48-10-5. Description of trust real estate; mailing address of trustor, beneficiary and trustee
A. In deeds of trust the legal description of trust real estate shall be given by one of the following methods:
Terms Used In New Mexico Statutes 48-10-5
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Trustee: A person or institution holding and administering property in trust.
- Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
(1) by the use of lot, block, tract or parcel as provided in a recorded subdivision plat;
(2) by the use of a metes and bounds or course and distance survey;
(3) by the use of the governmental rectangular survey system with specific identification of the location within any section or sections, tract or tracts, of a township and range; or
(4) by the use of any other method of description provided by law.
B. If the trust real estate is the subject of a recorded subdivision plat, the legal description of the trust real estate shall be given by the use of lot, block, tract or parcel as shown on the recorded subdivision plat.
C. The mailing address of each trustor, beneficiary and trustee shall be specified in each deed of trust.