N.M. Admin. Code § 19.2.8.16

Current through Register Vol. 35, No. 23, December 10, 2024

Section 19.2.8.16 - TRANSFER OF LEASE UPON LESSEE'S DEATH

A. Certified copies of letters testamentary and the final order in probate or the final order determining heirship, together with the miscellaneous instruments, filing fee and such other documents as the commissioner may require shall be filed with the commissioner in order to transfer a deceased lessee's interest in an agricultural lease. The agricultural lease may be carried on the records of the state land office in the name of the estate until probate or a judicial proceeding determining heirship has been completed.

B. The personal representative of the estate, subject to the normal approval processes of the commissioner, may assign the lease by:

(1) filing with the commissioner certified copies of the death certificate and letters testamentary;

(2) executing the necessary assignment forms;

(3) paying to the commissioner the lease assignment filing fee as set forth in the schedule of fees; and

(4) filing with the commissioner such other documents as the commissioner may require.

C. Except for leases executed by two (2) or more lessees designated as joint tenants with the right of survivorship, in the absence of probate, the lease interest of a deceased lessee shall be transferred on the records of the state land office during the term of the lease only by filing with the commissioner a certified copy of the certificate of death, the affidavits of the legal heirs as to their claims and the absence of conflicting claims, and such other documentation as the commissioner may require together with the miscellaneous instruments filing fee as set forth in the schedule of fees.

D. If a lease is executed by two (2) or more lessees designated as joint tenants with the right of survivorship, the interest of a deceased lessee may be transferred to the surviving lessees on the records of the state land office by filing with the commissioner the certificate of death together with the miscellaneous instruments filing fee.

E. If the heirs of a deceased lessee include minor children, a certified copy of the proceedings of the appointment of a guardian, conservator or guardian ad litem, together with such other documents as the commissioner may require and the miscellaneous instruments filing fee shall be filed with the commissioner to transfer the deceased lessee's interest in the lease.

F. The lease interest of a non-resident deceased lessee may be transferred by complying with Sections 45-4-101 to -401 NMSA 1978 and any successor provisions and by filing with the commissioner such documents as the commissioner may require together with the miscellaneous instruments filing fee.

N.M. Admin. Code § 19.2.8.16

3/11/81, 1/20/84, 9/30/85, 12/1/92, 6/29/96; 19.2.8.16 NMAC - Rn, 19 NMAC 3 SLO 8.16, 09/30/02, Amended by New Mexico Register, Volume XXVII, Issue 12, June 30, 2016, eff. 6/30/2016