Intestate Succession in New Mexico
Disclaimer: This article is for informational purposes only and does not constitute legal advice.
Detailed Answer
1. Identifying Real Property and Personal Assets
Under New Mexico’s Probate Code, an estate comprises both real property (land, homes, mineral rights) and personal property (bank accounts, vehicles, jewelry, stocks). The personal representative—often called the administrator—begins by:
- Reviewing title searches, deeds, and property tax records to locate real estate.
- Gathering account statements, certificates of title, safe-deposit inventories, and insurance policies to identify personal assets.
- Noting intangible assets such as patents, copyrights, and retirement accounts.
Key definitions appear at NMSA 1978 § 45-1-101.
2. Inventory and Appraisal
Within three months of appointment, the administrator must file an inventory and appraisal of all estate assets with the probate court. This process:
- Ensures court supervision over estate value.
- Provides creditors notice of available estate assets.
- Helps determine net distributable value after debts and expenses.
The requirements are set out in NMSA 1978 § 45-3-702.
3. Paying Debts and Expenses
Before distribution, the administrator must pay:
- Funeral and administrative expenses.
- Valid creditor claims within the priority scheme.
- State and federal taxes.
Any remaining assets become the “residue” subject to intestate succession rules.
4. Distribution Under Intestacy
If someone dies without a will, New Mexico law directs distribution in this order (§ 45-2-403 and following):
- Surviving Spouse and Descendants: If there is a spouse and children of the decedent (all children are also children of the spouse), the spouse inherits the entire estate.
- Spouse and Step- or Adopted Children: If surviving spouse has children not of the decedent, the spouse receives one-half of the intestate estate; the decedent’s children share the other half equally.
- No Spouse: Children inherit equally. If no descendants, assets go to parents, then siblings, and so on per § 45-2-402.
- No Relatives: The estate escheats to the state.
Real property passes via a court order or deed executed by the administrator. Personal property is distributed by transfer of title or delivered to beneficiaries.
Helpful Hints
- Start asset identification early—bank freezes often follow death.
- Obtain multiple property appraisals for high-value real estate.
- File the inventory on time to avoid court sanctions.
- Keep detailed records of all bill payments from the estate.
- Consult an attorney if family relationships complicate intestate shares.
- Review the full succession statutes in Chapter 45 of the NMSA 1978 online.