The procedure for securing court approval of a compromise is as follows:

A. the terms of the compromise shall be set forth in an agreement in writing that shall be executed by all persons or their representatives having beneficial interests or having claims that will or may be affected by the compromise;

B. any interested person, or the person's representative, including the personal representative, if any, or a trustee, may then submit the agreement to the district court for its approval and for execution by the personal representative, the trustee of every affected testamentary trust and other fiduciaries and representatives; and

C. after notice to all interested persons or their representatives, including the personal representative of any estate and all affected trustees of trusts, the district court, if it finds that an actual contest or controversy exists and that the effect of the agreement upon the interests of persons represented by fiduciaries or other representatives is just and reasonable, shall make an order approving the agreement and directing all fiduciaries under its supervision to execute the agreement. Minor children represented only by their parents may be bound only if their parents join with other persons or their representatives in execution of the compromise. Upon the making of the order and the execution of the agreement, all further disposition of the estate shall then be made in accordance with the terms of the agreement.

History: 1953 Comp., § 32A-3-1102, enacted by Laws 1975, ch. 257, § 3-1102; 1995, ch. 210, § 47; 2016, ch. 69, § 722.

Official comments. — See Commissioners on Uniform State Law official comment to 3-1102 UPC.

Cross references. — For private agreements amongst successors to decedent binding on personal representative, see 45-3-912 NMSA 1978.

The 2016 amendment, effective July 1, 2016, clarified language regarding the procedure for securing court approval of a compromise; in Subsection A, after "agreement in writing", deleted "which" and added "that", after "executed by all", deleted "competent", after "persons", deleted "and parents acting for any minor child" and added "or their representatives", and after "having claims", deleted "which" and added "that"; in Subsection B, after "any interested person", added "or the person's representative", and after the semicolon, added "and"; and in Subsection C, after "join with other", deleted "competent", and after the third occurrence of "persons", added "or their representatives".

The 1995 amendment, effective July 1, 1995, inserted "if any" near the beginning in Subsection B.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 80 Am. Jur. 2d Wills §§ 1098 to 1101, 1104.

15A C.J.S. Compromise and Settlement §§ 6, 24.