Renunciation And Disclaimer of Joint Tenant or Tenancy Interest
Disclaimer of Property Interest-New Mexico
NEW MEXICO STATUTES ANNOTATED
CHAPTER 45 UNIFORM PROBATE CODE
Part 8. General Provisions.
Disclaimer of property interests.
A. A person or the representative of a person to whom an
interest in or with respect to property or an interest therein devolves
by whatever means may disclaim it in whole or in part by delivering or
filing a written disclaimer pursuant to the provisions of this section.
The right to disclaim exists notwithstanding:
(1) any limitation on the interest of the disclaimant in
the nature of a spendthrift provision or similar restriction; or
For purposes of this subsection, the "representative
of a person" includes a personal representative of a decedent, a conservator
of a disabled person, a guardian of a minor or incapacitated person and
an agent acting on behalf of the person within the authority of a power
of attorney.
B. The following rules govern the time when a disclaimer
must be filed or delivered:
(1) if the property or interest has devolved to the disclaimant
under a testamentary instrument or by the laws of intestacy, the disclaimer
must be filed, if of a present interest, not later than nine months after
the death of the deceased owner or deceased donee of a power of appointment
and, if of a future interest, not later than nine months after the event
determining that the taker of the property or interest is finally ascertained
and his interest is indefeasibly vested. The disclaimer must be filed in
the court of the county in which proceedings for the administration of
the estate of the deceased owner or deceased donee of the power have been
commenced. A copy of the disclaimer must be delivered in person or mailed
by registered or certified mail, return receipt requested, to any personal
representative or other fiduciary of the decedent or donee of the power;
(2) if a property or interest has devolved to the disclaimant under
a nontestamentary instrument or contract, the disclaimer must be delivered
or filed, if of a present interest, not later than nine months after the
effective date of the nontestamentary instrument or contract and, if of
a future interest, not later than nine months after the event determining
that the taker of the property or interest is finally ascertained and his
interest is indefeasibly vested. If the person entitled to disclaim does
not know of the existence of the interest, the disclaimer must be delivered
or filed not later than nine months after the person learns of the existence
of the interest. The effective date of a revocable instrument or contract
is the date on which the maker no longer has power to revoke it or to transfer
to himself or another the entire legal and equitable ownership of the interest.
The disclaimer or a copy thereof must be delivered in person or mailed
by registered or certified mail, return receipt requested, to the person
who has legal title to or possession of the interest disclaimed;
(3) a surviving joint tenant may disclaim as a separate interest
any property or interest therein devolving to him by right of survivorship.
A surviving joint tenant may disclaim the entire interest in any property
or interest therein that is the subject of a joint tenancy devolving to
him if the joint tenancy was created by act of a deceased joint tenant,
the survivor did not join in creating the joint tenancy and has not accepted
a benefit under it; and
(4) if real property or an interest therein is disclaimed, a copy
of the disclaimer may be recorded in the office of the county clerk of
the county in which the property or interest disclaimed is located.
C. The disclaimer must:
D. The effects of a disclaimer are:
(1) if property or an interest therein devolves to a disclaimant
under a testamentary instrument under a power of appointment exercised
by a testamentary instrument or pursuant to the laws of intestacy and the
decedent has not provided for another disposition of that interest, should
it be disclaimed, or of disclaimed or failed interests in general, the
disclaimed interest devolves as if the disclaimant had predeceased the
decedent; but if by law or under the testamentary instrument the descendants
of the disclaimant would share in the disclaimed interest by representation
or otherwise were the disclaimant to predecease the decedent, then the
disclaimed interest passes by representation, or passes as directed by
the governing instrument, to the descendants of the disclaimant who
survived the decedent. A future interest that takes effect in possession
or enjoyment after the termination of the estate or interest disclaimed
takes effect as if the disclaimant had predeceased the decedent. A disclaimer
relates back for all purposes to the date of death of the decedent;
(2) if property or an interest therein devolves to a disclaimant
under a nontestamentary instrument or contract and the instrument or contract
does not provide for another disposition of that interest, should it be
disclaimed, or of disclaimed or failed interests in general, the disclaimed
interest devolves as if the disclaimant has predeceased the effective date
of the instrument or contract; but if by law or under the nontestamentary
instrument or contract the descendants of the disclaimant would share in
the disclaimed interest by representation or otherwise were the disclaimant
to predecease the effective date of the instrument, then the disclaimed
interest passes by representation, or passes as directed by the governing
instrument, to the descendants of the disclaimant who survive the effective
date of the instrument. A disclaimer relates back for all purposes to that
date. A future interest that takes effect in possession or enjoyment at
or after the termination of the disclaimed interest takes effect as if
the disclaimant had died before the effective date of the instrument or
contract that transferred the disclaimed interest; and
(3) the disclaimer or the written waiver of the right to disclaim
is binding upon the disclaimant or person waiving and all persons claiming
through or under either of them.
E. The right to disclaim property or an interest therein is barred
by:
(1) an assignment, conveyance, encumbrance, pledge or transfer
of the property or interest or a contract therefor;
F. This section does not abridge the right of a person to waive, release,
disclaim or renounce property or an interest therein under any other statute.
G. An interest in property that exists on the effective date of
this section as to which, if a present interest, the time for filing a
disclaimer under this section has not expired or, if a future interest,
the interest has not become indefeasibly vested or the taker finally ascertained
may be disclaimed within nine months after the effective date of this section.
Chap. 45, Part 8, §45-2-801.
