2011 New Mexico Statutes
Chapter 45: Uniform Probate Code
Article 3: Probate of Wills and Administration, 45-3-101 through 45-3-1302
Section 45-3-1101: Effect of approval of agreements involving trusts, inalienable interests or interests of third persons.
45-3-1101. Effect of approval of agreements involving trusts, inalienable interests or interests of third persons.
A. A compromise of any controversy is binding on all the parties thereto as to:
(1) admission to probate of any instrument offered for formal probate as the will of a decedent;
(2) the construction, validity or effect of any governing instrument;
(3) the rights or interests in the estate of the decedent;
(4) the rights or interests of any successor; or
(5) the administration of the estate, if approved in a formal proceeding in the district court for that purpose.
B. An approved compromise is binding even though it may affect a trust or an inalienable interest. A compromise does not impair the rights of creditors or of taxing authorities who are not parties to it.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
