§ 45-3-927 NMSA 1978

Securing payment of estate tax from property in possession of fiduciary

Known as the Uniform Estate Tax Apportionment Act

The act spans §§ 45–45 (144 sections).

Laws 2005, ch. 143, § 12; 1978 Comp., § 45-9A-8 recompiled as § 45-3-927 by Laws 2011, ch. 124, § 99.

A. A fiduciary may defer a distribution of property until the fiduciary is satisfied that adequate provision for payment of the estate tax has been made.

B. A fiduciary may withhold from a distributee an amount equal to the amount of estate tax apportioned to an interest of the distributee.

C. As a condition to a distribution, a fiduciary may require the distributee to provide a bond or other security for the portion of the estate tax apportioned to the distributee.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.