Any sale or encumbrance to a conservator, his spouse, agent or attorney, or to any corporation or trust in which he has a substantial beneficial interest, or any transaction which is affected by a substantial conflict of interest is voidable unless the transaction is approved by the court after notice to interested persons and others as directed by the court.
History: 1953 Comp., § 32A-5-422, enacted by Laws 1975, ch. 257, § 5-422.
Change in will. — Section 45-5-422 NMSA 1978 speaks in general terms of "any sale or encumbrance to a conservator" and does not speak directly to transfers by will or changes in an estate plan so as to constitute a breach of fiduciary duty by a conservator's efforts to make arrangements requested by the protected person to change the protected person's will. Lucero v. Lucero, 1994-NMCA-128, 118 N.M. 636, 884 P.2d 527.
Am. Jur. 2d, A.L.R. and C.J.S. references. — Guardian's purchase from corporation of which he is officer or stockholder as voidable or as ground for surcharging his account, 105 A.L.R. 449.
Ownership of stock in corporation in which guardian holds stock in fiduciary capacity by guardian in his own right, 106 A.L.R. 220, 161 A.L.R. 1039.
Transaction with affiliated corporation by corporate guardian as violation of rule against self-dealing, 151 A.L.R. 905.
Validity of inter vivos gift by ward to guardian or conservator, 70 A.L.R.4th 499.
14 C.J.S. Chemical Dependents § 4; 39 C.J.S. Guardian and Ward §§ 98 to 100; 49 C.J.S. Insane Persons § 85.
Structure New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 5 - Protection of Persons Under Disability and Their Property
Part 4 - PROTECTION OF PROPERTY OF PERSONS UNDER DISABILITY AND MINORS
Section 45-5-401 - Conservatorship proceedings.
Section 45-5-402 - Protective proceedings; jurisdiction of affairs of protected persons.
Section 45-5-402.1 - Permissible court orders.
Section 45-5-404 - Original petition for appointment of conservator.
Section 45-5-404.1 - Duties of guardian ad litem.
Section 45-5-405 - Notice in conservatorship proceedings.
Section 45-5-405.1 - Protective arrangements and single transactions authorized.
Section 45-5-406 - Guardianship and protective proceedings; request for notice; interested person.
Section 45-5-407 - Procedure for court appointment of a conservator.
Section 45-5-408 - Temporary conservators.
Section 45-5-409 - Annual report and account; audits.
Section 45-5-409.1 - Repealed.
Section 45-5-410 - Who may be appointed conservator; priorities.
Section 45-5-411 - Bond and terms; requirements of bonds.
Section 45-5-413 - Acceptance of appointment; consent to jurisdiction.
Section 45-5-414 - Compensation and expenses.
Section 45-5-415 - Death, substitution, review and termination of conservatorship.
Section 45-5-416 - Petitions for orders subsequent to appointment.
Section 45-5-417 - General duty of conservator.
Section 45-5-418 - Inventory and records.
Section 45-5-420 - Conservators; title by appointment.
Section 45-5-421 - Recording of conservator's letters.
Section 45-5-421.1 - Letters of conservatorship.
Section 45-5-423 - Persons dealing with conservators; protection.
Section 45-5-424 - Powers of conservator in administration.
Section 45-5-425 - Distributive duties and powers of conservator.
Section 45-5-426 - Consent to conservatorship; applicable laws.
Section 45-5-427 - Preservation of estate plan.
Section 45-5-428 - Claims against protected person; enforcement.
Section 45-5-429 - Individual liability of conservator.
Section 45-5-430 - Termination of proceeding.
Section 45-5-434 - Registration of guardianship orders.