SweetSunflower
Member
What is the name of your state (only U.S. law)? New Mexico
Hi, I wasn't sure where to post this question, but figured I would start here.
Quick background: Divorced in January after 17 years. Ex owned two homes prior to marriage, both of which are owned outright and one of which was the family home for last 15 years the other has been a rental. Ex was also delinquent on property tax for both homes.
I became disabled during the marriage and approved for SSDI, which would have likely made me eligible for lifetime alimony. Unless, of course, he dropped dead along the way or became otherwise incapicatated (God forbid )
In the end, the ex offered, in lieu of alimony, to transfer to me via warranty deed one of the houses if I paid off the property tax for both properties, which I agreed to do. Warranty deed for the house was transfered to me a couple of weeks ago.
Now, my question.
In New Mexico, does the transfer of property between ex spouses as part of a divorce settlement exempt the parties form the liability of transfer tax?
If I need to post this in another part of the forum, please let me know, and I will do so.
Thanks so much!
Ami
Hi, I wasn't sure where to post this question, but figured I would start here.
Quick background: Divorced in January after 17 years. Ex owned two homes prior to marriage, both of which are owned outright and one of which was the family home for last 15 years the other has been a rental. Ex was also delinquent on property tax for both homes.
I became disabled during the marriage and approved for SSDI, which would have likely made me eligible for lifetime alimony. Unless, of course, he dropped dead along the way or became otherwise incapicatated (God forbid )
In the end, the ex offered, in lieu of alimony, to transfer to me via warranty deed one of the houses if I paid off the property tax for both properties, which I agreed to do. Warranty deed for the house was transfered to me a couple of weeks ago.
Now, my question.
In New Mexico, does the transfer of property between ex spouses as part of a divorce settlement exempt the parties form the liability of transfer tax?
If I need to post this in another part of the forum, please let me know, and I will do so.
Thanks so much!
Ami