N.M. Stat. § 46-11-303

Current through 2024, ch. 69

Section 46-11-303 - Intent to exercise; after-acquired power

Unless the terms of the instrument exercising a power of appointment manifest a contrary intent:

A. except as otherwise provided in Subsection B of this section, a blanket-exercise clause extends to a power acquired by the powerholder after executing the instrument containing the clause; and

B. if the powerholder is also the donor of the power, the clause does not extend to the power unless there is no gift-in-default clause or the gift-in-default clause is ineffective.

NMS § 46-11-303

Laws 2016, ch. 69, § 303.

Added by 2016, c. 69,s. 303, eff. 1/1/2017.