New Mexico § 46-11-311 Disposition of unappointed property under released or

New Mexico Statutes

§ 46-11-311 — Disposition of unappointed property under released or

New Mexico § 46-11-311

Ch. 46Fiduciaries and Trusts

Art. 3EXERCISE OF POWER OF APPOINTMENT

This text of New Mexico § 46-11-311 (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. § 46-11-311 (2026).

Text

unexercised nongeneral power. To the extent a powerholder releases, ineffectively exercises or fails to exercise a nongeneral power of appointment: 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 that the clause is ineffective, the unappointed property:

(1)passes to the permissible appointees if:

(a)the permissible appointees are defined and limited; and (b) the terms of the instrument creating the power do not manifest a contrary intent; or (2) if there is no taker under Paragraph (1) of this subsection, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.

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unexercised nongeneral power. To the extent a powerholder releases, ineffectively exercises or fails to exercise a nongeneral power of appointment: 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 that the clause is ineffective, the unappointed property: (1) passes to the permissible appointees if: (a) the permissible appointees are defined and limited; and (b) the terms of the instrument creating the power do not manifest a contrary intent; or (2) if there is no taker under Paragraph (1) of this subsection, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.