2006 New Mexico Statutes - 45-3-1201 — Collection of personal property by affidavit.

45-3-1201. Collection of personal property by affidavit.

A.     Thirty days after the death of a decedent, any person indebted to the decedent or having possession of tangible personal property or an instrument evidencing a debt, obligation, stock or chose in action belonging to the decedent shall make payment of the indebtedness or deliver the tangible personal property or an instrument evidencing a debt, obligation, stock or chose in action to a person claiming to be the successor of the decedent upon being presented an affidavit made by or on behalf of the successor stating that:   

(1)     the value of the entire estate, wherever located, less liens and encumbrances, does not exceed thirty thousand dollars ($30,000);   

(2)     thirty days have elapsed since the death of the decedent;   

(3)     no application or petition for the appointment of a personal representative is pending or has been granted in any jurisdiction; and   

(4)     the claiming successor is entitled to payment or delivery of the property.   

B.     A transfer agent of any security shall change the registered ownership on the books of a corporation from the decedent to the successor or successors upon the presentation of an affidavit as provided in Subsection A of this section.   

C.     The affidavit made pursuant to this section may not be used to perfect title to real estate.