New Mexico § 46-11-310 Disposition of unappointed property under released or

New Mexico Statutes

§ 46-11-310 — Disposition of unappointed property under released or

New Mexico § 46-11-310

Ch. 46Fiduciaries and Trusts

Art. 3EXERCISE OF POWER OF APPOINTMENT

This text of New Mexico § 46-11-310 (Disposition of unappointed property under released or) 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. § 46-11-310 (2026).

Text

unexercised general power. To the extent a powerholder releases or fails to exercise a general power of appointment other than a power to withdraw property from, revoke or amend a trust: A. the gift-in-default clause controls the disposition of the unappointed property; or B. if there is no gift-in-default clause or to the extent the clause is ineffective:

(1)except as otherwise provided in Paragraph (2) of this subsection, the unappointed property passes to:

(a)the powerholder if the powerholder is a permissible appointee and is living; or (b) if the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or (2) to the extent the powerholder released the power, or if there is no taker under Paragraph (1) of this subsectio

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unexercised general power. To the extent a powerholder releases or fails to exercise a general power of appointment other than a power to withdraw property from, revoke or amend a trust: A. the gift-in-default clause controls the disposition of the unappointed property; or B. if there is no gift-in-default clause or to the extent the clause is ineffective: (1) except as otherwise provided in Paragraph (2) of this subsection, the unappointed property passes to: (a) the powerholder if the powerholder is a permissible appointee and is living; or (b) if the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or (2) to the extent the powerholder released the power, or if there is no taker under Paragraph (1) of this subsection, the unappointed property passes under a reversionary interest to the donor or the donor's transferee or successor in interest.