A personal representative may sell so much of any property as is necessary to pay the taxes due under the Estate Tax Act [7-7-1 to 7-7-12 NMSA 1978]. A personal representative may sell so much of any property specifically bequeathed or devised as is necessary to pay the proportionate amount of the taxes due on the transfer of the property and the fees and expenses of the sale, unless the legatee or devisee pays the personal representative the proportionate amount of the taxes due.
History: 1953 Comp., § 72-33-11, enacted by Laws 1973, ch. 345, § 11.
Effective dates. — Laws 1973, ch. 345, § 18 made Laws 1973, ch. 345, § 11 effective July 1, 1973.
Structure New Mexico Statutes
Section 7-7-3 - Residents; tax imposed; credit for tax paid other state.
Section 7-7-4 - Nonresidents; tax imposed; exemption.
Section 7-7-6 - Date payment due.
Section 7-7-7 - Interest on amount due; extension of time to file federal return.
Section 7-7-8 - Department to file certificate; final settlement of account.
Section 7-7-9 - Administration not applied for; application or waiver by the department.
Section 7-7-10 - Administration.
Section 7-7-11 - Sale of property to pay tax.
Section 7-7-12 - Liability for failure to pay tax before distribution or delivery.
Section 7-7-17 - Payment of estate tax in works of art.
Section 7-7-18 - Procedure for payment in works of art.