New Mexico § 46-7-28 Liability to third persons

New Mexico Statutes

§ 46-7-28 — Liability to third persons

New Mexico § 46-7-28

Ch. 46Fiduciaries and Trusts

Art. 7Transfers to Minors

This text of New Mexico § 46-7-28 (Liability to third persons) 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. § 46-7-28 (2026).

Text

A. A claim based on:

(1)a contract entered into by a custodian acting in a custodial capacity;

(2)an obligation arising from the ownership or control of custodial property; or (3) a tort committed during the custodianship, may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether or not the custodian or the minor is personally liable therefore. B. A custodian is not personally liable:

(1)on a contract properly entered into in the custodial capacity unless the custodian fails to reveal that capacity and to identify the custodianship in the contract; or (2) for an obligation arising from control of custodial property or for a tort committed during the custodianship unless the custodian is personally at fault. C. A minor is not pe

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A. A claim based on: (1) a contract entered into by a custodian acting in a custodial capacity; (2) an obligation arising from the ownership or control of custodial property; or (3) a tort committed during the custodianship, may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether or not the custodian or the minor is personally liable therefore. B. A custodian is not personally liable: (1) on a contract properly entered into in the custodial capacity unless the custodian fails to reveal that capacity and to identify the custodianship in the contract; or (2) for an obligation arising from control of custodial property or for a tort committed during the custodianship unless the custodian is personally at fault. C. A minor is not personally liable for an obligation arising from ownership of custodial property or for a tort committed during the custodianship unless the minor is personally at fault.