New Mexico § 45-5B-211 Estates, trusts and other beneficial interests

New Mexico Statutes

§ 45-5B-211 — Estates, trusts and other beneficial interests

New Mexico·Ch. 45 Uniform Probate Code·Art. 5B Uniform Power of Attorney

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 exercisabl

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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.

New Mexico § 45-5B-211 (Estates, trusts and other beneficial interests) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.