{"data":{"id":"us-nm/45-2-902","jurisdiction":"us-nm","citation":"45-2-902","heading":"Nonvested property interest or power of appointment created.","body":"A. Except as provided in Subsections B and C of this section and except as provided in Subsection A of Section 45-2-905 NMSA 1978, the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law.\nB. Under Sections 45-2-901 through 45-2-905 NMSA 1978, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified owner of either a nonvested property interest or a property interest subject to a power of appointment as described in Subsection B or C of Section 45-2-901 NMSA 1978, the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates. Under Sections 45-2-901 through 45-2-905 NMSA 1978, a joint power with respect to community property or to marital property under the Uniform Marital Property Act held by individuals married to each other is a power exercisable by one person alone.\nC. Under Sections 45-2-901 through 45-2-905 NMSA 1978, a nonvested property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the nonvested property interest or power of appointment in the original contribution was created.","path":["Chapter 45 - Uniform Probate Code","ARTICLE 2 Intestate Succession and Wills"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18546/index.do","current_through":"2024-09-06","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"4487c2ec023a6ff3357913dc64af7e6231a22fa65a47473302e04e9ea3907f18","source_id":"us-nm","stale":false,"prev":"us-nm/45-2-901","next":"us-nm/45-2-903"},"notice":"GroundRules: Original legal text. Not legal advice."}