Notwithstanding any other provision of the Uniform Disclaimer of Property Interests Act, if as a result of a disclaimer or transfer, the disclaimed or transferred interest is treated pursuant to the provisions of Title 26 of the United States Code, as now or hereafter amended, or any successor statute thereto, and the regulations promulgated thereunder, as never having been transferred to the disclaimant, then the disclaimer or transfer is effective as a disclaimer under the Uniform Disclaimer of Property Interests Act.
History: Laws 2001, ch. 290, § 14; 1978 Comp., § 46-10-14 recompiled as § 45-2-1114 by Laws 2011, ch. 124, § 101.
Recompilations. — Laws 2011, ch. 124, § 101 recompiled former 46-10-14 NMSA 1978 as 45-2-1114 NMSA 1978, effective January 1, 2012.
COMMENT
This section coordinates the Act with the requirements of a qualified disclaimer for transfer tax purposes under IRC §2518. Any disclaimer which is qualified for estate and gift tax purposes is a valid disclaimer under this Act even if its does not otherwise meet the Act's more specific requirements.
Structure New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 2 - Intestate Succession and Wills
Section 45-2-1101 - Short title.
Section 45-2-1102 - Definitions.
Section 45-2-1104 - Uniform Disclaimer of Property Interests Act supplemented by other law.
Section 45-2-1105 - Power to disclaim; general requirements; when irrevocable.
Section 45-2-1106 - Disclaimer of interest in property.
Section 45-2-1107 - Disclaimer of rights of survivorship in jointly held property.
Section 45-2-1108 - Disclaimer of interest by trustee.
Section 45-2-1111 - Disclaimer of power held in fiduciary capacity.
Section 45-2-1112 - Delivery or filing.
Section 45-2-1113 - When disclaimer barred or limited.
Section 45-2-1114 - Tax qualified disclaimer.