New Mexico Power of Attorney Forms
The New Mexico Power of Attorney Forms legally document the decision of an individual, known as the Principal, to confer decision making powers to another party, known as the Agent. Using the powers bestowed to them, the Agent is responsible for acting in the Principal’s best interests when handling the affairs on the Principal’s behalf that have been specified in the form. These can range from real estate management to tax duties to general financial matters.
What is a New Mexico Power of Attorney?
A New Mexico Power of Attorney is put into effect in order for an individual (the Principal) to authorize that one or more of their affairs should be handled by another individual or entity (the Agent). When managing the Principal’s affairs, the Agent is required to follow directions and conditions that are written in the given Power of Attorney document. The document will specify not only what the powers are, but also when and in what circumstances they should be exercised.
- New Mexico Power of Attorney Laws – (Chapter 45-5B, “Uniform Power of Attorney Act”)
- State Definition of Power of Attorney (§ 45-5B-102(G)) – “means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term “power of attorney” is used.”
- Signing Requirements (§ 45-5B-105) – Must be signed by the Principal (or another individual the Principal has directed to sign on their behalf) before a Notary Public or another individual who is authorized by law to take acknowledgments.
Durable (Statutory) Power of Attorney – A principal who wants the stipulations of a power of attorney to continue despite any complications they may face to their health should employ a durable type of POA.
General (Financial) Power of Attorney – Decision making powers concerning financial matters of any kind, type, or nature can be delegated from a principal to an agent using this form. The validity of the agent to exercise these decision making powers will only last as long as the principal is of a sound state of health.
Limited (Special) Power of Attorney – Limits the tasks the agent must carry out to only those noted in this form.
Medical Power of Attorney – This legal form, also referred to as an Advance Healthcare Directive, plays a vital role in protecting the rights and medical care wishes of individuals in a state of incapacitation.
Minor Child Power of Attorney – Parents and guardians are required by law to ensure, without fail, the wellbeing of their children. This is a responsibility usually carried out by the parents or guardians themselves, however, they may use this form to elect another party to fulfill such duties when they are unable to.
Download – Adobe PDF
Motor Vehicle Power of Attorney (Form MVD-11020) – The New Mexico Taxation & Revenue Department, Motor Vehicle Division has issued this limited durable POA to allow individuals to elect an attorney-in-fact to manage the motor vehicle affairs specified therein.
Download – Adobe PDF
Real Estate (Property) Power of Attorney – If an individual would like to elect another party to complete such actions as selling, managing, buying, or refinancing a property on their behalf, they should complete all necessary field in this form.
Revocation of Power of Attorney – The principal to a power of attorney can suspend the powers they have granted to the agent by stating such an intention in this form.
State Tax Filing Power of Attorney (Form ACD-33102) – Issued by the Taxation and Revenue Department of New Mexico, Form ACD-33102 allows the Department to disclose confidential tax information to a party appointed by a taxpayer in this form. The party can in turn use this information to complete the tax-related tasks the taxpayer wishes them to do on their behalf.
Download – Adobe PDF
When is it Effective?
As stated by § 45-5B-105, in order for a Power of Attorney to be considered legally effective in the state of New Mexico, the Principal must sign it before a Notary Public or another individual who is authorized by law to take acknowledgments. If they wish, a Principal may direct another individual to sign the POA on their behalf.