Section 45-2-1102 - Definitions.

NM Stat § 45-2-1102 (2019) (N/A)

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As used in the Uniform Disclaimer of Property Interests Act:

A. "disclaimant" means the person to whom a disclaimed interest or power would have passed had the disclaimer not been made;

B. "disclaimed interest" means the interest that would have passed to the disclaimant had the disclaimer not been made;

C. "disclaimer" means the refusal to accept an interest in or power over property;

D. "fiduciary" means a personal representative, trustee, agent acting under a power of attorney or other person authorized to act as a fiduciary with respect to the property of another person;

E. "jointly held property" means property held in the name of two or more persons under an arrangement in which all holders have concurrent interests and under which the last surviving holder is entitled to the whole of the property; and

F. "trust" means:

(1) an express trust, charitable or noncharitable, with additions thereto, whenever and however created; and

(2) a trust created pursuant to a statute, judgment or decree that requires the trust to be administered in the manner of an express trust.

History: Laws 2001, ch. 290, § 2; 1978 Comp., § 46-10-2 recompiled and amended as § 45-2-1102 NMSA 1978 by Laws 2011, ch. 124, § 90.

Recompilations. — Laws 2011, ch. 124, § 90 recompiled and amended former 46-10-2 NMSA 1978 as 45-2-1102 NMSA 1978, effective January 1, 2012.

The 2011 amendment, effective January 1, 2012, eliminated the definitions of "person" and "state".

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Section 45-2-1101 - Short title.

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Section 45-2-1103 - Scope.