Authorization Forms for Heirs to Direct Real Property Sale Proceeds in New Mexico
Detailed Answer
Under New Mexico law, a personal representative may sell real property of an estate and distribute the proceeds when heirs provide written authorization. Key steps and forms include:
1. Waiver and Consent to Sale of Real Property
New Mexico Statutes Section 45-3-701(B) (NMSA 1978, § 45-3-701) allows a sale without a court hearing if all persons entitled to distribution sign a written Waiver and Consent (Probate Form 4-144(A)). This form must:
- Identify the decedent, estate case number and property description.
- State the heir’s interest and explicit consent to a private sale.
- Release any objections to price, terms or buyer selection.
2. Court Order for Sale (if heirs do not all consent)
If one or more heirs withhold consent, the personal representative must petition the court for an order authorizing sale under § 45-3-702. The court will schedule a hearing and issue an order that all heirs must acknowledge before closing.
3. Receipt and Release by Beneficiary
After closing, each heir signs a Receipt and Release (Probate Form 4-144(B)). This document:
- Acknowledges receipt of the heir’s share of sale proceeds.
- Releases the personal representative from further claims related to those funds.
- References the distribution amount, date and estate case number.
4. Small Estate Affidavit (limited cases)
If an estate contains only personal property valued at $50,000 or less and no real property, heirs may use the Small Estate Affidavit under NMSA 1978, § 45-2-701. Note: real property proceeds generally exceed this threshold and require formal probate or a court order.
Helpful Hints
- Obtain official Probate Forms 4-144(A) and 4-144(B) from the New Mexico Courts website.
- Review each form for accuracy and completeness before signing.
- Ensure all heir signatures are notarized and filed with the probate court.
- Keep copies of filed waivers, consents, court orders and receipt releases.
- Consult a probate attorney to confirm compliance with NM statutes and procedural rules.