Unless the terms of the instrument creating or exercising a power of appointment manifest a contrary intent, if the powerholder makes a valid partial appointment to a taker in default of appointment, the taker in default of appointment may share fully in unappointed property.
History: Laws 2016, ch. 69, § 312.
Effective dates. — Laws 2016, ch. 69, § 727B made Laws 2016, ch. 69, §§ 101 through 603 and 724 effective January 1, 2017.
Structure New Mexico Statutes
Chapter 46 - Fiduciaries and Trusts
Article 11 - Uniform Powers of Appointment
Article 3 - EXERCISE OF POWER OF APPOINTMENT
Section 46-11-301 - Requisites for exercise of power of appointment.
Section 46-11-302 - Intent to exercise; determining intent from residuary clause.
Section 46-11-303 - Intent to exercise; after-acquired power.
Section 46-11-304 - Substantial compliance with donor-imposed formal requirement.
Section 46-11-305 - Permissible appointment.
Section 46-11-306 - Appointment to deceased appointee or permissible appointee's descendant.
Section 46-11-307 - Impermissible appointment.
Section 46-11-308 - Selective allocation doctrine.
Section 46-11-310 - Disposition of unappointed property under released or unexercised general power.
Section 46-11-312 - Disposition of unappointed property if partial appointment to taker in default.
Section 46-11-313 - Appointment to taker in default.
Section 46-11-314 - Powerholder's authority to revoke or amend exercise.