New Mexico Small Estate Affidavit
The New Mexico Small Estate Affidavit is a legal instrument that offers a more convenient means to transfer a deceased individual’s small estate to an individual who is legally entitled to the payment or delivery of their property. State law dictates that this Affidavit may only be used for personal property up to the value of $50,000. Therefore, it is not possible to use this form to transfer real estate, nor is it possible to obtain any estate that exceeds the maximum value mandated by the state.
Laws & Required Conditions
Laws: § 45-3-1201
Maximum Estate Value: $50,000
Required Conditions: Any claiming successor must follow state-mandated laws tied to the execution of a New Mexico Small Estate Affidavit:
- The Decedent must have passed away at least thirty (30) days prior,
- A pending or granted application for a personal representative is not apparent,
- The claiming successor “is entitled to payment or delivery of the property”, and
- The Affidavit is only being used to claim personal property, not to perfect title to real estate.