2011 New Mexico Statutes
Chapter 46: Fiduciaries and Trusts
Article 10: Uniform Disclaimer of Property Interests Act, 46-10-1 through 46-10-17
Section 46-10-7: Disclaimer of rights of survivorship in jointly held property. (Recompiled effective January 1, 2012.)
46-10-7. Disclaimer of rights of survivorship in jointly held property. (Recompiled effective January 1, 2012.)
A. Upon the death of a holder of jointly held property, a surviving holder may disclaim, in whole or part, the greater of:
(1) a fractional share of the property determined by dividing the number one by the number of joint holders alive immediately before the death of the holder to whose death the disclaimer relates; or
(2) all of the property except that part of the value of the entire interest attributable to the contribution furnished by the disclaimant.
B. A disclaimer under Subsection (a) takes effect as of the death of the holder of jointly held property to whose death the disclaimer relates.
C. An interest in jointly held property disclaimed by a surviving holder of the property passes as if the disclaimant predeceased the holder to whose death the disclaimer relates.
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.
