What is the best way to transfer property that has been my in family for generations. Example Grandfather/Son/Grandson ect.

New Mexico is a community property state, which generally means there is a presumption that the wife would be entitled to some interest in the property if the interest arose during the course of the marriage. There are some exceptions to this presumption. In many community property states, if property is gifted from a relative to a child or other relative, then the property does not become community property. If the property was acquired before the marriage, it is not community property. Seperate property may become community property (say if a cabin is built on the property). Or, the community may become entitled to some interest for community money used to build on or improve on seperate property. If the property is still in your father's name, you might consider having the property left to your children. Depending on the age of the children, this might be done through a trust, or through an outright designation in his will. It might also be possible for him to give you a "life estate" in the property, with the property going to your children upon your death. It is still possible in the event of divorce that the wife would be entitled to some compensation if a cabin is built with community funds. If dad builds the cabin, or if dad gifts you the money to build the cabin, and no community funds are expended, then the property may remain wholly seperate. There are many options, but the starting point really depends on who currently owns the property and what other tax issues the current owner might have. Lee Barrett