New Mexico § 46-11-205 Rules of classification

New Mexico Statutes

§ 46-11-205 — Rules of classification

New Mexico § 46-11-205

Ch. 46Fiduciaries and Trusts

Art. 2CREATION, REVOCATION AND AMENDMENT OF

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Bluebook

N.M. Stat. Ann. § 46-11-205 (2026).

Text

A.As used in this section, "adverse party" means a person with a substantial beneficial interest in property that would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder or a creditor of the powerholder's estate.

B.If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.

C.If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.

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A. As used in this section, "adverse party" means a person with a substantial beneficial interest in property that would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder or a creditor of the powerholder's estate. B. If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral. C. If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.