New Mexico § 45-7-512 Exemption of third person from liability

New Mexico Statutes

§ 45-7-512 — Exemption of third person from liability

New Mexico § 45-7-512

Ch. 45Uniform Probate Code

Art. 7Trust Administration

This text of New Mexico § 45-7-512 (Exemption of third person from liability) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 45-7-512 (2026).

Text

A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining: A. the validity of the purported custodial trustee's designation; B. the propriety of, or the authority under the Uniform Custodial Trust Act [45-7-501 to 45-7-522 NMSA 1978] for, any action of the purported custodial trustee; C. the validity or propriety of an instrument executed or instruction given pursuant to the Uniform Custodial Trust Act either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or D. the propriety of the application

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A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining: A. the validity of the purported custodial trustee's designation; B. the propriety of, or the authority under the Uniform Custodial Trust Act [45-7-501 to 45-7-522 NMSA 1978] for, any action of the purported custodial trustee; C. the validity or propriety of an instrument executed or instruction given pursuant to the Uniform Custodial Trust Act either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or D. the propriety of the application of property vested in the purported custodial trustee.