New Mexico § 46-7-27 Exemption of third person from liability

New Mexico Statutes

§ 46-7-27 — Exemption of third person from liability

New Mexico § 46-7-27

Ch. 46Fiduciaries and Trusts

Art. 7Transfers to Minors

This text of New Mexico § 46-7-27 (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. § 46-7-27 (2026).

Text

A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining: A. the validity of the purported custodian's designation; B. the propriety of, or the authority under the Uniform Transfers to Minors Act, for any act of the purported custodian; C. the validity or propriety under that act of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or D. the propriety of the application of any property of the minor delivered to the purported custodian.

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A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining: A. the validity of the purported custodian's designation; B. the propriety of, or the authority under the Uniform Transfers to Minors Act, for any act of the purported custodian; C. the validity or propriety under that act of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or D. the propriety of the application of any property of the minor delivered to the purported custodian.