New Mexico § 45-3-1201 - Collection of personal property by affidavit
Full text of New Mexico New Mexico Statutes Annotated § 45-3-1201 — Collection of personal property by affidavit, with citation guidance and answers to common questions.
§ 45-3-1201. Collection of personal property by affidavit
A. Thirty days after the death of a decedent, any person indebted to the decedent
or having possession of tangible personal property or an instrument evidencing a debt,
obligation, stock or chose in action belonging to the decedent shall make payment
of the indebtedness or deliver the tangible personal property or an instrument evidencing
a debt, obligation, stock or chose in action to a person claiming to be the successor
of the decedent upon being presented an affidavit made by or on behalf of the successor
stating that: (1) the value of the entire estate, wherever located, less liens and encumbrances,
does not exceed fifty thousand dollars ($50,000); (2) thirty days have elapsed since the death of the decedent; (3) no application or petition for the appointment of a personal representative is
pending or has been granted in any jurisdiction; and (4) the claiming successor is entitled to payment or delivery of the property. B. A transfer agent of any security shall change the registered ownership on the books
of a corporation from the decedent to the successor or successors upon the presentation
of an affidavit as provided in Subsection A of this section. C. The affidavit made pursuant to this section may not be used to perfect title to
real estate.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 45-3-1201
What does New Mexico Statutes Annotated § 45-3-1201 cover?
Section 45-3-1201 ("Collection of personal property by affidavit") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 45-3-1201?
A common citation format is "New Mexico Statutes Annotated § 45-3-1201" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 45-3-1201 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.