2019 New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 5B - Uniform Power of Attorney
Section 45-5B-211 - Estates, trusts and other beneficial interests.
A. As used in this section, "estates, trusts and other beneficial interests" means a trust, probate estate, guardianship, conservatorship, escrow or custodianship or a fund from which the principal is, may become, or claims to be entitled to a share or payment.
B. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to estates, trusts and other beneficial interests authorizes the agent to:
(1) accept, receive, receipt for, sell, assign, pledge or exchange a share in or payment from the fund;
(2) demand or obtain money or another thing of value to which the principal is, may become or claims to be entitled by reason of the fund, by litigation or otherwise;
(3) exercise for the benefit of the principal a presently exercisable general power of appointment held by the principal;
(4) initiate, participate in, submit to alternative dispute resolution, settle, oppose or propose or accept a compromise with respect to litigation to ascertain the meaning, validity or effect of a deed, will, declaration of trust or other instrument or transaction affecting the interest of the principal;
(5) initiate, participate in, submit to alternative dispute resolution, settle, oppose or propose or accept a compromise with respect to litigation to remove, substitute or surcharge a fiduciary;
(6) conserve, invest, disburse or use anything received for an authorized purpose; and
(7) transfer an interest of the principal in real property, stocks and bonds, accounts with financial institutions or securities intermediaries, insurance, annuities and other property to the trustee of a revocable trust created by the principal as settlor.
History: Laws 2007, ch. 135, § 211; 1978 Comp., § 46B-1-211 recompiled as § 45-5B-211 by Laws 2011, ch. 124, § 102.ANNOTATIONS
Recompilations. — Laws 2011, ch. 124, § 102 recompiled former 46B-1-211 NMSA 1978 as 45-5B-211 NMSA 1978, effective January 1, 2012.