SPECIAL PROVISIONS RELATING TO DISTRIBUTION

NMSA 1978 ch. 45, art. 3, pt. 9

in effect

NMSA 1978, § 45-3-901 Successors' rights if no administration

45-3-901. Successors' rights if no administration In the absence of administration, the heirs and devisees are entitled to the estate in accordance with the terms of a probated will or the laws of intestate succession. Devisees may establish title by the probated will to devised property. Persons entitled to property by the family allowance, personal property allowance or intestacy may establish title thereto by proof of the decedent's ownership, his death and their relationship to the decedent. Successors take subject to all charges incident to adminstration [administration], including the claims of creditors and allowances of surviving spouse and dependent children, and subject to the rights of others resulting from abatement, retainer, advancement and ademption. 1953 Comp., § 32A-3-901, enacted by Laws 1975, ch. 257, § 3-901.

NMSA 1978, § 45-3-902 Distribution; order in which assets appropriated; abatement

45-3-902. Distribution; order in which assets appropriated; abatement A. Except as provided in Subsection C of this section, shares of distributees abate, without any preference or priority as between real and personal property, in the following order: (1) property not disposed of by the will; (2) residuary devises; (3) general devises; and (4) specific devises. B. For purposes of abatement, a general devise charged on any specific property or fund is a specific devise to the extent of the value of the property on which it is charged and, upon the failure or insufficiency of the property on which it is charged, a general devise to the extent of the failure or insufficiency. Abatement within each classification is in proportion to the amounts of property each of the beneficiaries would have received if full distribution of the property had been made in accordance with the terms of the will. C. If the will expresses an order of abatement or if the testamentary plan or the express or implied purpose of the devise would be defeated by the order of abatement stated in Subsection A of this section, the shares of the distributees abate as may be found necessary to give effect to the intention of the testator. D. If an estate of a decedent consists partly of separate property and partly of community property, the debts and expenses of administration shall be apportioned and charged against the different kinds of property in accordance with the provisions of Subsection B of Section 45-2-807 NMSA 1978. E. If the subject of a preferred devise is sold or used incident to administration, abatement shall be achieved by appropriate adjustments in or contribution from other interests in the remaining assets. 1953 Comp., § 32A-3-902, enacted by Laws 1975, ch. 257, § 3-902; 1995, ch. 210, § 43; 2016, ch. 69, § 717.

NMSA 1978, § 45-3-903 Successor's indebtedness offset against interest; defenses

45-3-903. Successor's indebtedness offset against interest; defenses The amount of a noncontingent indebtedness of a successor to the estate if due, or its present value if not due, shall be offset against the successor's interest; but the successor has the benefit of any defense which would be available to him in a direct proceeding for recovery of the debt. 1953 Comp., § 32A-3-903, enacted by Laws 1975, ch. 257, § 3-903.

NMSA 1978, § 45-3-904 Interest on general pecuniary devise

45-3-904. Interest on general pecuniary devise General pecuniary devises bear interest at five percent per annum beginning one year after the first appointment of a personal representative until payment, unless a contrary intent is indicated by the will or unless distribution is withheld under the provisions of a court order upon a showing of good cause by the personal representative. 1953 Comp., § 32A-3-904, enacted by Laws 1975, ch. 257, § 3-904.

NMSA 1978, § 45-3-905 Penalty clause for contest

45-3-905. Penalty clause for contest A provision in a will purporting to penalize any interested person for contesting the will or instituting other proceedings relating to the estate is unenforceable if probable cause exists for instituting proceedings. Laws 1975, ch. 257, § 3-905; repealed and reenacted by Laws 2016, ch. 69, § 718.

NMSA 1978, § 45-3-906 Distribution in kind; valuation; method

45-3-906. Distribution in kind; valuation; method A. Unless a contrary intention is indicated by the will, the distributable assets of a decedent's estate shall be distributed in kind to the extent possible through application of the following provisions: (1) a specific devisee is entitled to distribution of the thing devised to him, and a spouse or child who has selected particular assets of an estate as provided in Section 45-2-402 NMSA 1978 shall receive the items selected; (2) any family allowance, personal property allowance or devise of a stated sum of money may be satisfied in kind, provided: (a) the person entitled to the payment has not demanded payment in cash; (b) the property distributed in kind is valued at fair market value as of the date of its distribution; and (c) no residuary devisee has requested that the asset in question remain a part of the residue of the estate; and (3) the residuary estate shall be distributed in any equitable manner. B. For the purpose of valuation pursuant to Paragraph (2) of Subsection A of this section, securities regularly traded on recognized exchanges, if distributed in kind, are valued at the price for the last sale of like securities traded on the business day prior to distribution or, if there was no sale on that day, at the median between amounts bid and offered at the close of that day. Assets consisting of sums owed the decedent or the estate by solvent debtors as to which there is no known dispute or defense are valued at the sum due with accrued interest or discounted to the date of distribution. For assets that do not have readily ascertainable values, a valuation as of a date not more than thirty days prior to the date of distribution, if otherwise reasonable, controls. For purposes of facilitating distribution, the personal representative may ascertain the value of the assets as of the time of the proposed distribution in any reasonable way, including the employment of qualified appraisers, even if the assets may have been previously appraised. C. After the probable charges against the estate are known, the personal representative may mail or deliver a proposal for distribution to all persons who have a right to object to the proposed distribution. The right of any distributee to object to the proposed distribution on the basis of the kind or value of asset he is to receive, if not waived earlier in writing, terminates if he fails to object in writing received by the personal representative within thirty days after mailing or delivery of the proposal. 1953 Comp., § 32A-3-906, enacted by Laws 1975, ch. 257, § 3-906; 1993, ch. 174, § 76.

NMSA 1978, § 45-3-907 Distribution in kind; evidence

45-3-907. Distribution in kind; evidence If distribution in kind is made, the personal representative shall execute an instrument or deed of distribution assigning, transferring or releasing the assets to the distributee as evidence of the distributee's title to the property. 1953 Comp., § 32A-3-907, enacted by Laws 1975, ch. 257, § 3-907.

NMSA 1978, § 45-3-908 Distribution; right or title of distributee

45-3-908. Distribution; right or title of distributee Proof that a distributee has received an instrument or deed of distribution of assets in kind, or payment in distribution, from a personal representative is conclusive evidence that the distributee has succeeded to the interest of the estate in the distributed assets, as against all interested persons. However, the personal representative may recover the assets or their value if the distribution was improper. 1953 Comp., § 32A-3-908, enacted by Laws 1975, ch. 257, § 3-908.

NMSA 1978, § 45-3-909 Improper distribution; liability of distributee

45-3-909. Improper distribution; liability of distributee Unless the distribution or payment no longer can be questioned because of adjudication, estoppel or limitation, a distributee of property improperly distributed or paid, or a claimant who was improperly paid, is liable to return the property improperly received and its income since distribution if he has the property. If he does not have the property, then he is liable to return the value as of the date of disposition of the property improperly received and the income and gain from that property received by him. 1953 Comp., § 32A-3-909, enacted by Laws 1975, ch. 257, § 3-909.

NMSA 1978, § 45-3-910 Purchases from distributees protected

45-3-910. Purchases from distributees protected If property distributed in kind or a security interest therein is acquired for value by a purchaser from or lender to a distributee who has received an instrument or deed of distribution from the personal representative, or is so acquired by a purchaser from or lender to a transferee from such distributee, the purchaser or lender takes title free of rights of any interested person in the estate and incurs no personal liability to the estate, or to any interested person, whether or not the distribution was proper or supported by court order or the authority of the personal representative was terminated before execution of the instrument or deed. This section protects a purchaser from or lender to a distributee who, as personal representative, has executed a deed of distribution to himself, as well as a purchaser from or lender to any other distributee or transferee. To be protected under this provision, a purchaser or lender need not inquire whether a personal representative acted properly in making the distribution in kind, even if the personal representative and the distributee are the same person, or whether the authority of the personal representative had terminated before the distribution. 1953 Comp., § 32A-3-910, enacted by Laws 1975, ch. 257, § 3-910; repealed and reenacted by Laws 1993, ch. 174, § 77.

NMSA 1978, § 45-3-911 Partition for purpose of distribution

45-3-911. Partition for purpose of distribution A. When two or more heirs or devisees are entitled to distribution of undivided interests in any real or personal property of the estate, the personal representative or one or more of the heirs or devisees may petition the district court prior to the formal or informal closing of the estate to make partition. B. After notice to the interested heirs or devisees, the district court shall partition the property pursuant to the provisions of the Uniform Partition of Heirs Property Act [42-5A-1 to 42-5A-13 NMSA 1978]. C. The district court may direct the personal representative to sell any property pursuant to the provisions of the Uniform Partition of Heirs Property Act. 1953 Comp., § 32A-3-911, enacted by Laws 1975, ch. 257, § 3-911; 2017, ch. 41, § 19.

NMSA 1978, § 45-3-912 Private agreements among successors to decedent binding on personal representative

45-3-912. Private agreements among successors to decedent binding on personal representative Subject to the rights of creditors and taxing authorities, successors or their representatives may agree among themselves to alter the interests, shares or amounts to which they are entitled under the will of the decedent or under the laws of intestacy in any way that they provide in a written contract executed by all who are affected by its provisions. The personal representative shall abide by the terms of the agreement subject to the personal representative's obligation to administer the estate for the benefit of creditors, to pay all taxes and costs of administration and to carry out the responsibilities of the personal representative's office for the benefit of any successors of the decedent who are not parties. Personal representatives of decedents' estates are not required to see to the performance of trusts if the trustee thereof is another person who is willing to accept the trust. Accordingly, trustees of a testamentary trust are successors for the purposes of this section. Nothing in this section relieves trustees of any duties owed to beneficiaries of trusts. 1953 Comp., § 32A-3-912, enacted by Laws 1975, ch. 257, § 3-912; 2016, ch. 69, § 719.

NMSA 1978, § 45-3-913 Distributions to trustee

45-3-913. Distributions to trustee A. Before distributing to a trustee, the personal representative may require that the trust be registered if the state in which it is to be administered provides for registration and that the trustee inform the beneficiaries as provided in Section 46A-8-813 NMSA 1978. B. If the trust instrument does not excuse the trustee from giving bond, the personal representative may petition the appropriate court to require that the trustee post bond if the personal representative apprehends that distribution might jeopardize the interests of persons who are not able to protect themselves, and the personal representative may withhold distribution until the court has acted. C. No inference of negligence on the part of the personal representative shall be drawn from the personal representative's failure to exercise the authority conferred by Subsections A and B of this section. 1953 Comp., § 32A-3-913, enacted by Laws 1975, ch. 257, § 3-913; 1995, ch. 210, § 44; 2011, ch. 124, § 48.

NMSA 1978, § 45-3-914 Disposition of unclaimed assets

45-3-914. Disposition of unclaimed assets If an heir, devisee or claimant cannot be found, the personal representative shall distribute the share of the missing person to his conservator, if any. Otherwise, the personal representative shall sell the share of the missing person and distribute the proceeds to the state treasurer as prescribed by the Uniform Unclaimed Property Act [Chapter 7, Article 8A NMSA 1978]. 1953 Comp., § 32A-3-914, enacted by Laws 1975, ch. 257, § 3-914; 1993, ch. 174, § 78.

NMSA 1978, § 45-3-915 Distribution to person under disability

45-3-915. Distribution to person under disability A. A personal representative may discharge an obligation to distribute to a minor or person under other disability by distributing in a manner expressly provided in the will or other governing instrument. B. Unless contrary to an express provision in the will or other governing instrument, the personal representative may discharge an obligation to distribute to a minor or person under other disability as authorized by Section 45-5-103 NMSA 1978 or any other statute. If the personal representative knows that a conservator has been appointed or that a proceeding for appointment of a conservator is pending, the personal representative is authorized to distribute only to the conservator. C. If the heir or devisee is under disability other than minority, the personal representative is authorized to distribute to: (1) an agent who has authority under a power of attorney to receive property for that person; or (2) the spouse, parent or other close relative with whom the person under disability resides if the distribution is of amounts not exceeding ten thousand dollars ($10,000) a year or property not exceeding fifty thousand dollars ($50,000) in value unless the court authorizes a larger amount or greater value. D. Persons receiving money or property for the disabled person are obligated to apply the money or property to the support of the disabled person. Persons may not pay themselves except by way of reimbursement for out-of-pocket expenses for goods and services necessary for the support of the disabled person. Excess sums must be preserved for future support of the disabled person. The personal representative is not responsible for the proper application of money or property distributed pursuant to this subsection. 1953 Comp., § 32A-3-915, enacted by Laws 1975, ch. 257, § 3-915; 1993, ch. 174, § 79; 2011, ch. 124, § 49.

NMSA 1978, § 45-3-920 Short title

45-3-920. Short title Sections 5 through 17 [15] [45-3-920 to 45-3-930 NMSA 1978] of this act may be cited as the "Uniform Estate Tax Apportionment Act". Laws 2005, ch. 143, § 5; 1978 Comp., § 45-9A-1 recompiled as § 45-3-920 by Laws 2011, ch. 124, § 99.

NMSA 1978, § 45-3-921 Definitions

45-3-921. Definitions As used in the Uniform Estate Tax Apportionment Act [45-3-920 to 45-3-930 NMSA 1978]: A. "apportionable estate" means the value of the gross estate as finally determined for purposes of the estate tax to be apportioned reduced by: (1) any claim or expense allowable as a deduction for purposes of the tax; (2) the value of any interest in property that, for purposes of the tax, qualifies for a marital or charitable deduction or otherwise is deductible or is exempt; and (3) any amount added to the decedent's gross estate because of a gift tax on transfers made before death; B. "estate tax" means a federal, state or foreign tax imposed because of the death of an individual and interest and penalties associated with the tax. The term does not include an inheritance tax, income tax or generation-skipping transfer tax other than a generation-skipping transfer tax incurred on a direct skip taking effect at death; C. "gross estate" means, with respect to an estate tax, all interests in property subject to the tax; D. "person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government, governmental subdivision, agency or instrumentality, or any other legal or commercial entity; E. "ratable" means apportioned or allocated pro rata according to the relative values of interests to which the term is to be applied. "Ratably" has a corresponding meaning; F. "time-limited interest" means an interest in property which terminates on a lapse of time or on the occurrence or nonoccurrence of an event or which is subject to the exercise of discretion that could transfer a beneficial interest to another person. The term does not include a cotenancy unless the cotenancy itself is a time-limited interest; and G. "value" means, with respect to an interest in property, fair market value as finally determined for purposes of the estate tax that is to be apportioned, reduced by any outstanding debt secured by the interest without reduction for taxes paid or required to be paid or for any special valuation adjustment. Laws 2005, ch. 143, § 6; 1978 Comp., § 45-9A-2 recompiled as § 45-3-921 by Laws 2011, ch. 124, § 99.

NMSA 1978, § 45-3-922 Apportionment by will or other dispositive instrument

45-3-922. Apportionment by will or other dispositive instrument A. Except as otherwise provided in Subsection C of this section, the following rules apply: (1) to the extent that a provision of a decedent's will expressly and unambiguously directs the apportionment of an estate tax, the tax must be apportioned accordingly; (2) any portion of an estate tax not apportioned pursuant to Paragraph (1) of this subsection must be apportioned in accordance with any provision of a revocable trust of which the decedent was the settlor that expressly and unambiguously directs the apportionment of an estate tax. If conflicting apportionment provisions appear in two or more revocable trust instruments, the provision in the most recently dated instrument prevails. For purposes of this paragraph: (a) a trust is revocable if it was revocable immediately after the trust instrument was executed, even if the trust subsequently becomes irrevocable; and (b) the date of an amendment to a revocable trust instrument is the date of the amended instrument only if the amendment contains an apportionment provision; and (3) if any portion of an estate tax is not apportioned pursuant to Paragraph (1) or (2) of this subsection, and a provision in any other dispositive instrument expressly and unambiguously directs that any interest in the property disposed of by the instrument is or is not to be applied to the payment of the estate tax attributable to the interest disposed of by the instrument, the provision controls the apportionment of the tax to that interest. B. Subject to Subsection C of this section, and unless the decedent expressly and unambiguously directs the contrary, the following rules apply: (1) if an apportionment provision directs that a person receiving an interest in property under an instrument is to be exonerated from the responsibility to pay an estate tax that would otherwise be apportioned to the interest: (a) the tax attributable to the exonerated interest must be apportioned among the other persons receiving interests passing under the instrument; or (b) if the values of the other interests are less than the tax attributable to the exonerated interest, the deficiency must be apportioned ratably among the other persons receiving interests in the apportionable estate that are not exonerated from apportionment of the tax; (2) if an apportionment provision directs that an estate tax is to be apportioned to an interest in property a portion of which qualifies for a marital or charitable deduction, the estate tax must first be apportioned ratably among the holders of the portion that does not qualify for a marital or charitable deduction and then apportioned ratably among the holders of the deductible portion to the extent that the value of the nondeductible portion is insufficient; (3) except as otherwise provided in Paragraph (4) of this subsection, if an apportionment provision directs that an estate tax be apportioned to property in which one or more time-limited interests exist, other than interests in specified property under Section 11 [45-3-926 NMSA 1978] of this act, the tax must be apportioned to the principal of that property, regardless of the deductibility of some of the interests in that property; and (4) if an apportionment provision directs that an estate tax is to be apportioned to the holders of interests in property in which one or more time-limited interests exist and a charity has an interest that otherwise qualifies for an estate tax charitable deduction, the tax must first be apportioned, to the extent feasible, to interests in property that have not been distributed to the persons entitled to receive the interests. C. A provision that apportions an estate tax is ineffective to the extent that it increases the tax apportioned to a person having an interest in the gross estate over which the decedent had no power to transfer immediately before the decedent executed the instrument in which the apportionment direction was made. For purposes of this subsection, a testamentary power of appointment is a power to transfer the property that is subject to the power. Laws 2005, ch. 143, § 7; 1978 Comp., § 45-9A-3 recompiled as § 45-3-922 by Laws 2011, ch. 124, § 99.

NMSA 1978, § 45-3-923 Statutory apportionment of estate taxes

45-3-923. Statutory apportionment of estate taxes To the extent that apportionment of an estate tax is not controlled by an instrument described in Section 7 [45-3-922 NMSA 1978] of this act and except as otherwise provided in Sections 10 and 11 of this act [45-3-925, 45-3-926 NMSA 1978], the following rules apply: A. subject to Subsections B, C and D of this section, the estate tax is apportioned ratably to each person that has an interest in the apportionable estate; B. a generation-skipping transfer tax incurred on a direct skip taking effect at death is charged to the person to which the interest in property is transferred; C. if property is included in the decedent's gross estate because of Section 2044 of the federal Internal Revenue Code of 1986 or any similar estate tax provision, the difference between the total estate tax for which the decedent's estate is liable and the amount of estate tax for which the decedent's estate would have been liable if the property had not been included in the decedent's gross estate is apportioned ratably among the holders of interests in the property. The balance of the tax, if any, is apportioned ratably to each other person having an interest in the apportionable estate; and D. except as otherwise provided in Paragraph (4) of Subsection B of Section 7 of this act [45-3-922 NMSA 1978] and except as to property to which Section 11 [45-3-926 NMSA 1978] of this act applies, an estate tax apportioned to persons holding interests in property subject to a time-limited interest must be apportioned, without further apportionment, to the principal of that property. Laws 2005, ch. 143, § 8; 1978 Comp., § 45-9A-4 recompiled as § 45-3-923 by Laws 2011, ch. 124, § 99.

NMSA 1978, § 45-3-924 Credits and deferrals

45-3-924. Credits and deferrals Except as otherwise provided in Sections 10 and 11 of this act [45-3-925, 45-3-926 NMSA 1978], the following rules apply to credits and deferrals of estate taxes: A. a credit resulting from the payment of gift taxes or from estate taxes paid on property previously taxed inures ratably to the benefit of all persons to which the estate tax is apportioned; B. a credit for state or foreign estate taxes inures ratably to the benefit of all persons to which the estate tax is apportioned, except that the amount of a credit for a state or foreign tax paid by a beneficiary of the property on which the state or foreign tax was imposed, directly or by a charge against the property, inures to the benefit of the beneficiary; and C. if payment of a portion of an estate tax is deferred because of the inclusion in the gross estate of a particular interest in property, the benefit of the deferral inures ratably to the persons to which the estate tax attributable to the interest is apportioned. The burden of any interest charges incurred on a deferral of taxes and the benefit of any tax deduction associated with the accrual or payment of the interest charge is allocated ratably among the persons receiving an interest in the property. Laws 2005, ch. 143, § 9; 1978 Comp., § 45-9A-5 recompiled as § 45-3-924 by Laws 2011, ch. 124, § 99.

NMSA 1978, § 45-3-925 Insulated property; advancement of tax

45-3-925. Insulated property; advancement of tax A. In this section: (1) "advanced fraction" means a fraction that has as its numerator the amount of the advanced tax and as its denominator the value of the interests in insulated property to which that tax is attributable; (2) "advanced tax" means the aggregate amount of estate tax attributable to interests in insulated property that is required to be advanced by uninsulated holders under Subsection C of this section; (3) "insulated property" means property subject to a time-limited interest that is included in the apportionable estate but is unavailable for payment of an estate tax because of impossibility or impracticability; (4) "uninsulated holder" means a person who has an interest in uninsulated property; and (5) "uninsulated property" means property included in the apportionable estate other than insulated property. B. If an estate tax is to be advanced pursuant to Subsection C of this section by persons holding interests in uninsulated property subject to a time-limited interest other than property to which Section 11 of this act [45-3-926 NMSA 1978] applies, the tax must be advanced, without further apportionment, from the principal of the uninsulated property. C. Subject to Subsections B and D of Section 13 [45-3-928 NMSA 1978] of this act, an estate tax attributable to interests in insulated property must be advanced ratably by uninsulated holders. If the value of an interest in uninsulated property is less than the amount of estate taxes otherwise required to be advanced by the holder of that interest, the deficiency must be advanced ratably by the persons holding interests in properties that are excluded from the apportionable estate under Paragraph (2) of Subsection A of Section 6 of this act [45-3-921 NMSA 1978] as if those interests were in uninsulated property. D. A court having jurisdiction to determine the apportionment of an estate tax may require a beneficiary of an interest in insulated property to pay all or part of the estate tax otherwise apportioned to the interest if the court finds that it would be substantially more equitable for that beneficiary to bear the tax liability personally than for that part of the tax to be advanced by uninsulated holders. E. When a distribution of insulated property is made, each uninsulated holder may recover from the distributee a ratable portion of the advanced fraction of the property distributed. To the extent that undistributed insulated property ceases to be insulated, each uninsulated holder may recover from the property a ratable portion of the advanced fraction of the total undistributed property. F. Upon a distribution of insulated property for which, pursuant to Subsection D of this section, the distributee becomes obligated to make a payment to uninsulated holders, a court may award an uninsulated holder a recordable lien on the distributee's property to secure the distributee's obligation to that uninsulated holder. Laws 2005, ch. 143, § 10; 1978 Comp., § 45-9A-6 recompiled as § 45-3-925 by Laws 2011, ch. 124, § 99.

NMSA 1978, § 45-3-926 Apportionment and recapture of special elective benefits

45-3-926. Apportionment and recapture of special elective benefits A. In this section: (1) "special elective benefit" means a reduction in an estate tax obtained by an election for: (a) a reduced valuation of specified property that is included in the gross estate; (b) a deduction from the gross estate, other than a marital or charitable deduction, allowed for specified property; or (c) an exclusion from the gross estate of specified property; and (2) "specified property" means property for which an election has been made for a special elective benefit. B. If an election is made for one or more special elective benefits, an initial apportionment of a hypothetical estate tax must be computed as if no election for any of those benefits had been made. The aggregate reduction in estate tax resulting from all elections made must be allocated among holders of interests in the specified property in the proportion that the amount of deduction, reduced valuation or exclusion attributable to each holder's interest bears to the aggregate amount of deductions, reduced valuations and exclusions obtained by the decedent's estate from the elections. If the estate tax initially apportioned to the holder of an interest in specified property is reduced to zero, any excess amount of reduction reduces ratably the estate tax apportioned to other persons that receive interests in the apportionable estate. C. An additional estate tax imposed to recapture all or part of a special elective benefit must be charged to the persons that are liable for the additional tax under the law providing for the recapture. Laws 2005, ch. 143, § 11; 1978 Comp., § 45-9A-7 recompiled as § 45-3-926 by Laws 2011, ch. 124, § 99.

NMSA 1978, § 45-3-927 Securing payment of estate tax from property in possession of fiduciary

45-3-927. Securing payment of estate tax from property in possession of fiduciary A. A fiduciary may defer a distribution of property until the fiduciary is satisfied that adequate provision for payment of the estate tax has been made. B. A fiduciary may withhold from a distributee an amount equal to the amount of estate tax apportioned to an interest of the distributee. C. As a condition to a distribution, a fiduciary may require the distributee to provide a bond or other security for the portion of the estate tax apportioned to the distributee. Laws 2005, ch. 143, § 12; 1978 Comp., § 45-9A-8 recompiled as § 45-3-927 by Laws 2011, ch. 124, § 99.

NMSA 1978, § 45-3-928 Collection of estate tax by fiduciary

45-3-928. Collection of estate tax by fiduciary A. A fiduciary responsible for payment of an estate tax may collect from any person the tax apportioned to and the tax required to be advanced by the person. B. Except as otherwise provided in Section 10 [45-3-925 NMSA 1978] of this act, any estate tax due from a person that cannot be collected from the person may be collected by the fiduciary from other persons in the following order of priority: (1) any person having an interest in the apportionable estate that is not exonerated from the tax; (2) any other person having an interest in the apportionable estate; and (3) any person having an interest in the gross estate. C. A domiciliary fiduciary may recover from an ancillary personal representative the estate tax apportioned to the property controlled by the ancillary personal representative. D. The total tax collected from a person pursuant to the Uniform Estate Tax Apportionment Act [45-3-920 to 45-3-930 NMSA 1978] may not exceed the value of the person's interest. Laws 2005, ch. 143, § 13; 1978 Comp., § 45-9A-9 recompiled as § 45-3-928 by Laws 2011, ch. 124, § 99.

NMSA 1978, § 45-3-929 Right of reimbursement

45-3-929. Right of reimbursement A. A person required under Section 13 [45-3-928 NMSA 1978] of this act to pay an estate tax greater than the amount due from the person under Section 7 or 8 [45-3-922, 45-3-923 NMSA 1978] of this act has a right to reimbursement from another person to the extent that the other person has not paid the tax required by Section 7 or 8 of this act and a right to reimbursement ratably from other persons to the extent that each has not contributed a portion of the amount collected under Subsection B of Section 13 of this act. B. A fiduciary may enforce the right of reimbursement under Subsection A of this section on behalf of the person that is entitled to the reimbursement and shall take reasonable steps to do so if requested by the person. Laws 2005, ch. 143, § 14; 1978 Comp., § 45-9A-10 recompiled as § 45-3-929 by Laws 2011, ch. 124, § 99.

NMSA 1978, § 45-3-930 Action to determine or enforce act

45-3-930. Action to determine or enforce act A fiduciary, transferee or beneficiary of the gross estate may maintain an action for declaratory judgment to have a court determine and enforce the Uniform Estate Tax Apportionment Act [45-3-920 to 45-3-930 NMSA 1978]. Laws 2005, ch. 143, § 15; 1978 Comp., § 45-9A-11 recompiled as § 45-3-930 by Laws 2011, ch. 124, § 99.

Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18546/index.doFetched: 10/20/2026