Section 45-2-1115 – Recording of disclaimer.
If an instrument transferring an interest in or power over property subject to a disclaimer is required or permitted by law to be filed, recorded or registered, the disclaimer may be so filed, recorded or registered. Except as otherwise provided in Paragraph (2) of Subsection G of Section 45-2-1112 NMSA 1978, failure to file, record […]
Section 45-2-1116 – Application to existing relationships.
Except as otherwise provided in Section 13 [45-2-1113 NMSA 1978] of the Uniform Disclaimer of Property Interests Act, an interest in or power over property existing on the effective date of that act as to which the time for delivering or filing a disclaimer under law superseded by that act has not expired may be […]
Section 45-2-1105 – Power to disclaim; general requirements; when irrevocable.
A. A person may disclaim, in whole or part, any interest in or power over property, including a power of appointment. A person may disclaim the interest or power even if its creator imposed a spendthrift provision or similar restriction on transfer or a restriction or limitation on the right to disclaim. B. Except to […]
Section 45-2-1106 – Disclaimer of interest in property.
A. As used in this section: (1) “future interest” means an interest that takes effect in possession or enjoyment, if at all, later than the time of its creation; and (2) “time of distribution” means the time when a disclaimed interest would have taken effect in possession or enjoyment. B. Except for a disclaimer governed […]
Section 45-2-1107 – Disclaimer of rights of survivorship in jointly held property.
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 […]
Section 45-2-1108 – Disclaimer of interest by trustee.
If a trustee disclaims an interest in property that otherwise would have become trust property, the interest does not become trust property. History: Laws 2001, ch. 290, § 8; 1978 Comp., § 46-10-8 recompiled as § 45-2-1108 by Laws 2011, ch. 124, § 101. ANNOTATIONS Recompilations. — Laws 2011, ch. 124, § 101 recompiled former […]
Section 45-2-1109 – Disclaimer of power of appointment or other power not held in fiduciary capacity.
If a holder disclaims a power of appointment or other power not held in a fiduciary capacity, the following rules apply: A. If the holder has not exercised the power, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable. B. If the holder has exercised the power and the […]
Section 45-2-1110 – Disclaimer by appointee, object or taker in default of exercise of power of appointment.
A. A disclaimer of an interest in property by an appointee of a power of appointment takes effect as of the time the instrument by which the holder exercises the power becomes irrevocable. B. A disclaimer of an interest in property by an object or taker in default of an exercise of a power of […]
Section 45-2-1111 – Disclaimer of power held in fiduciary capacity.
A. If a fiduciary disclaims a power held in a fiduciary capacity that has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable. B. If a fiduciary disclaims a power held in a fiduciary capacity that has been exercised, the disclaimer takes effect immediately after the […]
Section 45-2-1112 – Delivery or filing.
A. As used in this section, “beneficiary designation” means an instrument, other than an instrument creating a trust, naming the beneficiary of: (1) an annuity or insurance policy; (2) an account with a designation for payment on death; (3) a security registered in beneficiary form; (4) a pension, profit-sharing, retirement or other employment-related benefit plan; […]