LegalFix
Sign In

Section 45-2-903 - Reformation.

NM Stat § 45-2-903 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the ninety years allowed by each Paragraph (2) of Subsections A, B or C of Section 45-2-901 NMSA 1978 if:

A. a nonvested property interest or a power of appointment becomes invalid under Section 45-2-901 NMSA 1978;

B. a class gift is not but might become invalid under Section 45-2-901 NMSA 1978 and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or

C. a nonvested property interest that is not validated by Paragraph (1) of Subsection A of Section 45-2-901 NMSA 1978 can vest but not within ninety years after its creation.

History: 1978 Comp., § 45-2-1003, enacted by Laws 1992, ch. 66, § 3; recompiled as 1978 Comp., § 45-2-903 by Laws 1993, ch. 174, § 66; 1995, ch. 210, § 26.

Official comments. — See Commissioners on Uniform State Law official comment to 2-903 UPC.

The 1995 amendment, effective July 1, 1995, substituted "Section 45-2-901 NMSA 1978" for "Section 45-2-1001 NMSA 1978" in four places throughout the section.

Previous Section
Section 45-2-902 - Nonvested property interest or power of appointment created.
Next Section
Section 45-2-904 - Exclusions.