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.
§ 46-11-308 NMSA 1978
Selective allocation doctrine
Known as the Uniform Powers of Appointment Act
The act spans §§ 46–46 (38 sections).
Applied in 1 court decision — leading case In re Robert L. McDowell Revocable Trust (2017)
Most recently applied in In re Robert L. McDowell Revocable Trust (May 2017)
Laws 2016, ch. 69, § 308.
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.