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§ 46-12-120 NMSA 1978

Duration of second trust

Known as the Uniform Trust Decanting Act

The act spans §§ 46–46 (29 sections).

Laws 2016, ch. 72, § 1 -120.

A. Subject to Subsection B of this section, a second trust may have a duration that is the same as or different from the duration of the first trust.

B. To the extent that property of a second trust is attributable to property of the first trust, the property of the second trust is subject to any maximum perpetuity, accumulation or suspension-of-the-power-of-alienation rules that apply to property of the first trust.

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.