New Mexico: When Carrying Costs Affect Your Share of Proceeds from a Property Sale
How New Mexico courts treat mortgage, property tax, and carrying-cost payments when dividing sale proceeds Detailed answer Short answer: Possibly. Under New Mexico law, a court that divides the proceeds from the sale of real estate can consider who paid mortgage principal, property taxes, insurance, utilities, maintenance and other carrying costs when it determines each […]
Read article →New Mexico — Can Sale Proceeds Pay for Estate Cleanup and Junk Removal?
Can sale proceeds be used to pay estate cleanup, junk removal, and personal property cleanup? Detailed Answer In New Mexico, money received from selling estate property becomes estate cash. That cash is generally available to pay legitimate estate administration expenses, including reasonable costs to clean, remove junk, and prepare property for sale or distribution. The […]
Read article →Handling Unauthorized Charges Against a Parent’s Estate in New Mexico
How the Probate Process Handles Unauthorized Charges to a Parent’s Estate in New Mexico Disclaimer This article is educational only. It does not provide legal advice and is not a substitute for consulting a licensed New Mexico attorney about your specific situation. Detailed Answer If someone has run up unauthorized charges against your deceased parent’s […]
Read article →Regaining Control of a Deceased Parent’s Bank and Credit Card Accounts in New Mexico
Quick Answer If someone else is using a deceased parent’s bank or credit card accounts, act quickly. Gather certified death certificates, contact the financial institutions, and either present proof of authority (Letters Testamentary or Letters of Administration) or begin probate or small‑estate procedures in New Mexico. If the person is using the accounts without authority, […]
Read article →New Mexico: Securing a Deceased Person’s Home and Preventing Removal of Belongings Before Appointment as Administrator
Immediate steps to secure a decedent's home and preserve estate property Disclaimer: This is general information, not legal advice. For guidance tailored to your situation, consult a licensed New Mexico attorney. Detailed answer — what you can do now under New Mexico law If someone has died and you expect to be (or want to […]
Read article →How to Become the Administrator of a Parent’s Intestate Estate in New Mexico
Detailed answer: How to get appointed administrator of your dad’s estate in New Mexico Short summary: If your father died without a will (intestate) you can ask the probate court to appoint you as the administrator (also called a personal representative). You must file a probate petition in the district court in the county where […]
Read article →New Mexico — How Children Inherit When There Is No Will: Order of Succession and Practical Steps
Quick answer When someone dies in New Mexico without a will, their property passes by intestate succession. If the decedent is survived by children, the children (or their descendants) take the decedent’s share according to representation — commonly called "per stirpes" distribution. That means each surviving child takes an equal share, and if a child […]
Read article →How to Get Court Approval to Sell a House and Pay Off the Mortgage in New Mexico
FAQ: How do I get court approval to sell a house and pay off the mortgage in New Mexico? This FAQ explains the typical steps people follow in New Mexico when they need a court’s permission to sell real estate so the outstanding mortgage can be paid from the sale proceeds. The most common situations […]
Read article →New Mexico — Using Payable-on-Death Accounts to Pay Estate Creditors
How New Mexico law treats payable-on-death accounts and estate creditors Short answer: In New Mexico, payable-on-death (POD) and other beneficiary-designated accounts generally transfer directly to the named beneficiary and do not pass through probate. Because those funds are nonprobate, they usually are not automatically available to pay the decedent’s estate creditors. However, creditors can sometimes […]
Read article →New Mexico — How to Open an Estate Bank Account Using an IRS EIN
Overview: Estate bank accounts and federal employer identification numbers (EIN) When someone dies, the assets they leave often need to be collected, protected, and used to pay debts and distribute property to heirs. A common administrative step is opening a dedicated estate bank account. That account keeps estate funds separate from the personal accounts of […]
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