A. Thirty days after the death of a decedent, any person indebted to the decedent or having possession of tangible personal property or an instrument evidencing a debt, obligation, stock or chose in action belonging to the decedent shall make payment of the indebtedness or deliver the tangible personal property or an instrument evidencing a debt, obligation, stock or chose in action to a person claiming to be the successor of the decedent upon being presented an affidavit made by or on behalf of the successor stating that:

(1) the value of the entire estate, wherever located, less liens and encumbrances, does not exceed fifty thousand dollars ($50,000);

(2) thirty days have elapsed since the death of the decedent;

(3) no application or petition for the appointment of a personal representative is pending or has been granted in any jurisdiction; and

(4) the claiming successor is entitled to payment or delivery of the property.

B. A transfer agent of any security shall change the registered ownership on the books of a corporation from the decedent to the successor or successors upon the presentation of an affidavit as provided in Subsection A of this section.

C. The affidavit made pursuant to this section may not be used to perfect title to real estate.

History: 1953 Comp., § 32A-3-1201, enacted by Laws 1975, ch. 257, § 3-1201; 1983, ch. 194, § 8; 1995, ch. 210, § 48; 2011, ch. 124, § 50.

Official comments. — See Commissioners on Uniform State Law official comment to 3-1201 UPC.

Compiler's notes. — This section includes within its scope some of the functions of former 31-13-1 and 31-13-2, 1953 Comp.

Cross references. — For collection of employee's final payment for wages by surviving spouse without administration, see 45-3-1301 NMSA 1978.

The 2011 amendment, effective January 1, 2012, in Subsection A, increased the maximum value of the estate from thirty thousand dollars to fifty thousand dollars.

The 1995 amendment, effective July 1, 1995, substituted "thirty thousand dollars ($30,000)" for "twenty thousand dollars ($20,000)" in Paragraph A(1).

Am. Jur. 2d, A.L.R. and C.J.S. references. — 31 Am. Jur. 2d Executors and Administrators § 16 et seq.; 79 Am. Jur. 2d Wills § 827.

33 C.J.S. Executors and Administrators §§ 5, 153.