New Mexico § 45-3-1204 - Small estates; closing by sworn statement of personal representative

§ 45-3-1204. Small estates; closing by sworn statement of personal representative

A. Unless prohibited by order of the district court and except for estates being administered

by supervised personal representatives, a personal representative may close an estate

administered under the summary procedures of Section 45-3-1203 NMSA 1978 by filing with the court, at any time after disbursement and distribution of the

estate, a verified statement stating that: (1) to the best knowledge of the personal representative, the value of the entire

estate, less liens and encumbrances, did not exceed the family allowance, personal

property allowance, costs and expenses of administration, reasonable necessary medical

and hospital expenses of the last illness of the decedent and reasonable funeral expenses; (2) the personal representative has fully administered the estate by disbursing and

distributing it to the persons entitled thereto; and (3) the personal representative has sent a copy of the closing statement to all distributees

of the estate and to all creditors or other claimants of whom he is aware whose claims

are neither paid nor barred and has furnished a full account in writing of his administration

to the distributees whose interests are affected. B. If no actions or proceedings involving the personal representative are pending

in court one year after the closing statement is filed, the appointment of the personal

representative terminates. C. A closing statement filed under this section has the same effect as one filed under Section 45-3-1003 NMSA 1978 .