2017 New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 3 - Probate of Wills and Administration
Part 11 - COMPROMISE OF CONTROVERSIES
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 any lawful matter involving the estate. Matters that may be resolved by the compromise include:
(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; and
(5) the administration of the estate, if approved in a formal proceeding in the district court for that purpose.
B. A court-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 that are not parties to it.
History: 1953 Comp., 32A-3-1101, enacted by Laws 1975, ch. 257, 3-1101; 1995, ch. 210, 46; 2016, ch. 69, 721.
