New Mexico § 45-5B-211 - Estates, trusts and other beneficial interests

§ 45-5B-211. Estates, trusts and other beneficial interests

A. As used in this section, “ estates, trusts and other beneficial interests ” means a trust, probate estate, guardianship, conservatorship, escrow or custodianship

or a fund from which the principal is, may become, or claims to be entitled to a share

or payment. B. Unless the power of attorney otherwise provides, language in a power of attorney

granting general authority with respect to estates, trusts and other beneficial interests

authorizes the agent to: (1) accept, receive, receipt for, sell, assign, pledge or exchange a share in or payment

from the fund; (2) demand or obtain money or another thing of value to which the principal is, may

become or claims to be entitled by reason of the fund, by litigation or otherwise; (3) exercise for the benefit of the principal a presently exercisable general power

of appointment held by the principal; (4) initiate, participate in, submit to alternative dispute resolution, settle, oppose

or propose or accept a compromise with respect to litigation to ascertain the meaning,

validity or effect of a deed, will, declaration of trust or other instrument or transaction

affecting the interest of the principal; (5) initiate, participate in, submit to alternative dispute resolution, settle, oppose

or propose or accept a compromise with respect to litigation to remove, substitute

or surcharge a fiduciary; (6) conserve, invest, disburse or use anything received for an authorized purpose;

and (7) transfer an interest of the principal in real property, stocks and bonds, accounts

with financial institutions or securities intermediaries, insurance, annuities and

other property to the trustee of a revocable trust created by the principal as settlor.