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2019 New Mexico Statutes
Chapter 46 - Fiduciaries and Trusts
Article 12 - Uniform Trust Decanting
Section 46-12-120 - Duration of second trust.
Universal Citation: NM Stat § 46-12-120 (2019)
A. Subject to Subsection B of this section, a second trust may have a duration that is the same as or different from the duration of the first trust.
B. To the extent that property of a second trust is attributable to property of the first trust, the property of the second trust is subject to any maximum perpetuity, accumulation or suspension-of-the-power-of-alienation rules that apply to property of the first trust.
History: Laws 2016, ch. 72, § 1-120.
ANNOTATIONSEffective dates. — Laws 2016, ch. 72, § 3-101 made the Uniform Trust Decanting Act, §§ 46-12-101 through 46-12-129 NMSA 1978, effective January 1, 2017.
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