{"data":{"id":"us-nm/45-5b-205","jurisdiction":"us-nm","citation":"45-5B-205","heading":"Tangible personal property.","body":"Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property authorizes the agent to:\nA. demand, buy, receive, accept as a gift or as security for an extension of credit or otherwise acquire or reject ownership or possession of tangible personal property or an interest in tangible personal property;\nB. sell, exchange, convey with or without covenants, representations or warranties, quitclaim, release, surrender, create a security interest in, grant options concerning, lease, sublease or otherwise dispose of tangible personal property or an interest in tangible personal property;\nC. grant a security interest in tangible personal property or an interest in tangible personal property as security to borrow money or pay, renew or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;\nD. release, assign, satisfy or enforce by litigation or otherwise a security interest, lien or other claim on behalf of the principal, with respect to tangible personal property or an interest in tangible personal property;\nE. manage or conserve tangible personal property or an interest in tangible personal property on behalf of the principal, including:\n(1) insuring against liability or casualty or other loss;\n(2) obtaining or regaining possession of or protecting the property or interest, by litigation or otherwise;\n(3) paying, assessing, compromising or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments;\n(4) moving the property from place to place;\n(5) storing the property for hire or on a gratuitous bailment; and\n(6) using and making repairs, alterations or improvements to the property; and\nF. change the form of title of an interest in tangible personal property.","path":["Chapter 45 - Uniform Probate Code","ARTICLE 5B Uniform Power of Attorney"],"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":"5aa578c0cc2531d81982620d4520c9beff78e978491c2cad8e3d49cb9490fd23","source_id":"us-nm","stale":false,"prev":"us-nm/45-5b-204","next":"us-nm/45-5b-206"},"notice":"GroundRules: Original legal text. Not legal advice."}