2017 New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 3 - Probate of Wills and Administration
Part 12 - COLLECTION OF PERSONAL PROPERTY BY AFFIDAVIT AND SUMMARY ADMINISTRATION PROCEDURE FOR SMALL ESTATES
Section 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 fifty thousand dollars ($50,000);
(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.
History: 1953 Comp., 32A-3-1201, enacted by Laws 1975, ch. 257, 3-1201; 1983, ch. 194, 8; 1995, ch. 210, 48; 2011, ch. 124, 50.