New Mexico § 46-7-17 Other transfer by fiduciary

New Mexico Statutes

§ 46-7-17 — Other transfer by fiduciary

New Mexico § 46-7-17

Ch. 46Fiduciaries and Trusts

Art. 7Transfers to Minors

This text of New Mexico § 46-7-17 (Other transfer by fiduciary) 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. § 46-7-17 (2026).

Text

A. Subject to Subsection C of this section, a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to Section 10 [46-7-20 NMSA 1978] of the Uniform Transfers to Minors Act in the absence of a will or under a will or trust that does not contain an authorization to do so. B. Subject to Subsection C of this section, a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to Section 10 of that act. C. A transfer under Subsection A or B of this section may be made only if:

(1)the personal representative, trustee, or conservator considers the transfer to be in the best interest of the minor;

(2)the transfer is not prohibit

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A. Subject to Subsection C of this section, a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to Section 10 [46-7-20 NMSA 1978] of the Uniform Transfers to Minors Act in the absence of a will or under a will or trust that does not contain an authorization to do so. B. Subject to Subsection C of this section, a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to Section 10 of that act. C. A transfer under Subsection A or B of this section may be made only if: (1) the personal representative, trustee, or conservator considers the transfer to be in the best interest of the minor; (2) the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement or other governing instrument; and (3) the transfer is authorized by the court if it exceeds ten thousand dollars ($10,000) in value.