A. A person who in good faith either assists a personal representative or deals with him for value is protected as if the personal representative properly exercised his power. The fact that a person knowingly deals with a personal representative does not alone require the person to inquire into the existence of a power or the propriety of its exercise. Except for restrictions on powers of supervised personal representatives which are endorsed on letters as provided in Section 3-504 [45-3-504 NMSA 1978], no provision in any will or order of court purporting to limit the power of a personal representative is effective except as to persons with actual knowledge thereof. A person is not bound to see to the proper application of estate assets paid or delivered to a personal representative. The protection expressed in this section extends to instances in which some procedural irregularity or jurisdictional defect occurred in proceedings leading to the issuance of letters, including a case in which the alleged decedent is found to be alive.
B. The protection expressed in this section in [is] not by substitution for that provided by comparable provisions of the laws relating to commercial transactions and laws simplifying transfers of securities by fiduciaries.
History: 1953 Comp., § 32A-3-714, enacted by Laws 1975, ch. 257, § 3-714.
Official comments. — See Commissioners on Uniform State Law official comment to 3-714 UPC.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 33 C.J.S. Executors and Administrators §§ 271, 293, 320.
Structure New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 3 - Probate of Wills and Administration
Part 7 - DUTIES AND POWERS OF PERSONAL REPRESENTATIVES
Section 45-3-701 - Time of accrual of duties and powers.
Section 45-3-702 - Priority among different letters.
Section 45-3-704 - Personal representative to proceed without court order; exception.
Section 45-3-705 - Duty of personal representative; notice to heirs and devisees.
Section 45-3-706 - Duty of personal representative; inventory and appraisement.
Section 45-3-707 - Employment of appraisers.
Section 45-3-708 - Duty of personal representative; supplementary inventory.
Section 45-3-709 - Duty of personal representative; possession of estate.
Section 45-3-710 - Power to avoid transfers.
Section 45-3-711 - Powers of personal representatives; in general.
Section 45-3-712 - Improper exercise of power; breach of fiduciary duty.
Section 45-3-714 - Persons dealing with personal representative; protection.
Section 45-3-715 - Transactions authorized for personal representatives; exceptions.
Section 45-3-716 - Powers and duties of successor personal representative.
Section 45-3-717 - Co-representatives; when joint action required.
Section 45-3-718 - Powers of surviving personal representative.
Section 45-3-719 - Compensation for personal representatives.
Section 45-3-720 - Expenses in estate litigation.
Section 45-3-721 - Proceedings for review of employment and compensation.