reglab/housing_qa huggingface dataset:
NM Stat § 46-11-201 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 2 - CREATION, REVOCATION AND AMENDMENT OF POWER OF APPOINTMENT|Section 46-11-201 - Creation of power of appointment.

A. A power of appointment is created only if: (1) the instrument creating the power: (a) is valid under applicable law; and (b) except as otherwise provided in Subsection B of this section, transfers the appointive property; and (2) the terms of the instrument creating the power manifest the donor's intent to create in a powerholder a power of appointment over the appointive property exercisable in favor of a permissible appointee. B. Subparagraph (b) of Paragraph (1) of Subsection A of this section does not apply to the creation of a power of appointment by the exercise of a power of appointment. C. A power of appointment shall not be created in a deceased individual. D. Subject to the provisions of Section 45-2-901 NMSA 1978, a power of appointment may be created in an unborn or unascertained powerholder. History: Laws 2016, ch. 69, § 201. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-202 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 2 - CREATION, REVOCATION AND AMENDMENT OF POWER OF APPOINTMENT|Section 46-11-202 - Nontransferability.

A powerholder shall not transfer a power of appointment. If a powerholder dies without exercising or releasing a power, the power lapses. History: Laws 2016, ch. 69, § 202. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-203 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 2 - CREATION, REVOCATION AND AMENDMENT OF POWER OF APPOINTMENT|Section 46-11-203 - Presumption of unlimited authority.

Subject to Section 205 [46-11-205 NMSA 1978] of the Uniform Powers of Appointment Act, and unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is: A. presently exercisable; B. exclusionary; and C. except as otherwise provided in Section 204 [46-11-204 NMSA 1978] of the Uniform Powers of Appointment Act, general. History: Laws 2016, ch. 69, § 203. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-204 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 2 - CREATION, REVOCATION AND AMENDMENT OF POWER OF APPOINTMENT|Section 46-11-204 - Exception to presumption of unlimited authority.

Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if: A. the power is exercisable only at the powerholder's death; and B. the permissible appointees of the power are a defined and limited class that does not include the powerholder's estate, the powerholder's creditors or the creditors of the powerholder's estate. History: Laws 2016, ch. 69, § 204. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-205 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 2 - CREATION, REVOCATION AND AMENDMENT OF POWER OF APPOINTMENT|Section 46-11-205 - Rules of classification.

A. As used in this section, "adverse party" means a person with a substantial beneficial interest in property that would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder or a creditor of the powerholder's estate. B. If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral. C. If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary. History: Laws 2016, ch. 69, § 205. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-206 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 2 - CREATION, REVOCATION AND AMENDMENT OF POWER OF APPOINTMENT|Section 46-11-206 - Power to revoke or amend.

A donor may revoke or amend a power of appointment only to the extent that: A. the instrument creating the power is revocable by the donor; or B. the donor reserves a power of revocation or amendment in the instrument creating the power of appointment. History: Laws 2016, ch. 69, § 206. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-301 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-301 - Requisites for exercise of power of appointment.

A power of appointment is exercised only: A. if the instrument exercising the power is valid under applicable law; and B. if the terms of the instrument exercising the power: (1) manifest the powerholder's intent to exercise the power; and (2) subject to Section 304 [46-11-304 NMSA 1978] of the Uniform Powers of Appointment Act, satisfy the requirements of exercise, if any, imposed by the donor; and C. to the extent the appointment is a permissible exercise of the power. History: Laws 2016, ch. 69, § 301. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-302 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-302 - Intent to exercise; determining intent from residuary clause.

A. As used in this section: (1) "residuary clause" does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause; and (2) "will" includes a codicil and a testamentary instrument that revises another will. B. A residuary clause in a powerholder's will, or a comparable clause in the powerholder's revocable trust, manifests the powerholder's intent to exercise a power of appointment only if: (1) the terms of the instrument containing the residuary clause do not manifest a contrary intent; (2) the power is a general power exercisable in favor of the powerholder's estate; (3) there is no gift-in-default clause or the gift-in-default clause is ineffective; and (4) the powerholder did not release the power. History: Laws 2016, ch. 69, § 302. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-303 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|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. History: Laws 2016, ch. 69, § 303. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-304 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-304 - Substantial compliance with donor-imposed formal requirement.

A powerholder's substantial compliance with a formal requirement of appointment imposed by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if: A. the powerholder knows of and intends to exercise the power; and B. the powerholder's manner of attempted exercise of the power does not impair a material purpose of the donor in imposing the requirement. History: Laws 2016, ch. 69, § 304. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-305 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-305 - Permissible appointment.

A. A powerholder of a general power of appointment that permits appointment to the powerholder or the powerholder's estate may make any appointment, including an appointment in trust or creating a new power of appointment, that the powerholder could make in disposing of the powerholder's own property.B. A powerholder of a general power of appointment that permits appointment only to the creditors of the powerholder or of the powerholder's estate may appoint only to those creditors. C. Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the powerholder of a nongeneral power may:(1) make an appointment in any form, including an appointment in trust, in favor of a permissible appointee;(2) create a general power in a permissible appointee;(3) create a nongeneral power in any person to appoint to one or more of the permissible appointees of the original nongeneral power; or(4) create a nongeneral power in a permissible appointee to appoint to one or more persons if the permissible appointees of the new nongeneral power include the permissible appointees of the original nongeneral power. History: Laws 2016, ch. 69, § 305; 2019, ch. 221, § 6. ANNOTATIONSThe 2019 amendment, effective July 1, 2019, provided that a powerholder of a nongeneral power may create a nongeneral power in a permissible appointee to appoint to one or more persons if the permissible appointees of the new nongeneral power include the permissible appointees of the original nongeneral power; and in Subsection C, added Paragraph C(4).Applicability. — Laws 2019, ch. 221, § 7, provided that the provisions of this act apply to:A. a governing instrument created before, on or after July 1, 2019;B. a judicial proceeding commenced on or after July 1, 2019; andC. a judicial proceeding commenced before July 1, 2019, unless the court finds that application of a particular provision of this act would substantially interfere with the effective conduct of the judicial proceeding or prejudice a right of a party, in which case the particular provision does not apply and the previous law applies.
NM Stat § 46-11-306 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-306 - Appointment to deceased appointee or permissible appointee's descendant.

A. Subject to Sections 45-2-603 and 45-2-707 NMSA 1978, an appointment to a deceased appointee is ineffective. B. Unless the terms of the instrument creating a power of appointment manifest a contrary intent, a powerholder of a nongeneral power may exercise the power in favor of, or create a new power of appointment in, a descendant of a deceased permissible appointee whether or not the descendant is described by the donor as a permissible appointee. History: Laws 2016, ch. 69, § 306. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-307 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-307 - Impermissible appointment.

A. Except as otherwise provided in Section 306 [46-11-306 NMSA 1978] of the Uniform Powers of Appointment Act, an exercise of a power of appointment in favor of an impermissible appointee is ineffective. B. An exercise of a power of appointment in favor of a permissible appointee is ineffective to the extent the appointment is a fraud on the power. History: Laws 2016, ch. 69, § 307. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-308 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-308 - Selective allocation doctrine.

If a powerholder exercises a power of appointment in a disposition that also disposes of property the powerholder owns, the owned property and the appointive property must be allocated in the permissible manner that best carries out the powerholder's intent. History: Laws 2016, ch. 69, § 308. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-309 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-309 - Capture doctrine; disposition of ineffectively appointed property under general power.

To the extent a powerholder of a general power of appointment, other than a power to withdraw property from, revoke or amend a trust, makes an ineffective appointment: A. the gift-in-default clause controls the disposition of the ineffectively appointed property; or B. if there is no gift-in-default clause or to the extent the clause is ineffective, the ineffectively appointed property: (1) passes to: (a) the powerholder if the powerholder is a permissible appointee and is living; or (b) if the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or (2) if there is no taker under Paragraph (1) of this subsection, passes under a reversionary interest to the donor or the donor's transferee or successor in interest. History: Laws 2016, ch. 69, § 309. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-310 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-310 - Disposition of unappointed property under released or unexercised general power.

To the extent a powerholder releases or fails to exercise a general power of appointment other than a power to withdraw property from, revoke or amend a trust: A. the gift-in-default clause controls the disposition of the unappointed property; or B. if there is no gift-in-default clause or to the extent the clause is ineffective: (1) except as otherwise provided in Paragraph (2) of this subsection, the unappointed property passes to: (a) the powerholder if the powerholder is a permissible appointee and is living; or (b) if the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or (2) to the extent the powerholder released the power, or if there is no taker under Paragraph (1) of this subsection, the unappointed property passes under a reversionary interest to the donor or the donor's transferee or successor in interest. History: Laws 2016, ch. 69, § 310. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-311 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-311 - Disposition of unappointed property under released or unexercised nongeneral power.

To the extent a powerholder releases, ineffectively exercises or fails to exercise a nongeneral power of appointment: A. the gift-in-default clause controls the disposition of the unappointed property; or B. if there is no gift-in-default clause or to the extent that the clause is ineffective, the unappointed property: (1) passes to the permissible appointees if: (a) the permissible appointees are defined and limited; and (b) the terms of the instrument creating the power do not manifest a contrary intent; or (2) if there is no taker under Paragraph (1) of this subsection, passes under a reversionary interest to the donor or the donor's transferee or successor in interest. History: Laws 2016, ch. 69, § 311. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-312 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-312 - Disposition of unappointed property if partial appointment to taker in default.

Unless the terms of the instrument creating or exercising a power of appointment manifest a contrary intent, if the powerholder makes a valid partial appointment to a taker in default of appointment, the taker in default of appointment may share fully in unappointed property. History: Laws 2016, ch. 69, § 312. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-313 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-313 - Appointment to taker in default.

If a powerholder makes an appointment to a taker in default of appointment and the appointee would have taken the property under a gift-in-default clause had the property not been appointed, the power of appointment is deemed not to have been exercised and the appointee takes under the clause. History: Laws 2016, ch. 69, § 313. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-314 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 3 - EXERCISE OF POWER OF APPOINTMENT|Section 46-11-314 - Powerholder's authority to revoke or amend exercise.

A powerholder may revoke or amend an exercise of a power of appointment only to the extent that: A. the powerholder reserves a power of revocation or amendment in the instrument exercising the power of appointment and, if the power is nongeneral, the terms of the instrument creating the power of appointment do not prohibit the reservation; or B. the terms of the instrument creating the power of appointment provide that the exercise is revocable or amendable. History: Laws 2016, ch. 69, § 314. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-401 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 4 - DISCLAIMER OR RELEASE; CONTRACT TO APPOINT OR NOT TO APPOINT|Section 46-11-401 - Disclaimer.

As provided by the Uniform Disclaimer of Property Interests Act [45-2-1101 to 45-2-1116 NMSA 1978]: A. a powerholder may disclaim all or part of a power of appointment; and B. a permissible appointee, appointee or taker in default of appointment may disclaim all or part of an interest in appointive property. History: Laws 2016, ch. 69, § 401. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-402 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 4 - DISCLAIMER OR RELEASE; CONTRACT TO APPOINT OR NOT TO APPOINT|Section 46-11-402 - Authority to release.

A powerholder may release a power of appointment, in whole or in part, except to the extent that the terms of the instrument creating the power prevent the release. History: Laws 2016, ch. 69, § 402. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-403 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 4 - DISCLAIMER OR RELEASE; CONTRACT TO APPOINT OR NOT TO APPOINT|Section 46-11-403 - Method of release.

A powerholder of a releasable power of appointment may release the power in whole or in part: A. by substantial compliance with a method provided in the terms of the instrument creating the power; or B. if the terms of the instrument creating the power do not provide a method or the method provided in the terms of the instrument is not expressly made exclusive, by a record manifesting the powerholder's intent by clear and convincing evidence. History: Laws 2016, ch. 69, § 403. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-404 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 4 - DISCLAIMER OR RELEASE; CONTRACT TO APPOINT OR NOT TO APPOINT|Section 46-11-404 - Revocation or amendment of release.

A powerholder may revoke or amend a release of a power of appointment only to the extent that: A. the instrument of release is revocable by the powerholder; or B. the powerholder reserves a power of revocation or amendment in the instrument of release. History: Laws 2016, ch. 69, § 404. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-405 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 4 - DISCLAIMER OR RELEASE; CONTRACT TO APPOINT OR NOT TO APPOINT|Section 46-11-405 - Power to contract; presently exercisable power of appointment.

A powerholder of a presently exercisable power of appointment may contract: A. not to exercise the power; or B. to exercise the power if the contract when made does not confer a benefit on an impermissible appointee. History: Laws 2016, ch. 69, § 405. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-406 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 4 - DISCLAIMER OR RELEASE; CONTRACT TO APPOINT OR NOT TO APPOINT|Section 46-11-406 - Power to contract; power of appointment not presently exercisable.

A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder: A. is also the donor of the power; and B. has reserved the power in a revocable trust. History: Laws 2016, ch. 69, § 406. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
NM Stat § 46-11-407 (2021)
2021 New Mexico Statutes|Chapter 46 - Fiduciaries and Trusts|Article 11 - Uniform Powers of Appointment|Article 4 - DISCLAIMER OR RELEASE; CONTRACT TO APPOINT OR NOT TO APPOINT|Section 46-11-407 - Remedy for breach of contract to appoint or not to appoint.

The remedy for a powerholder's breach of a contract to appoint or not to appoint appointive property is limited to damages payable out of the appointive property or, if appropriate, specific performance of the contract. History: Laws 2016, ch. 69, § 407. ANNOTATIONSEffective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.