{"data":{"id":"us-nm/45-7-506","jurisdiction":"us-nm","citation":"45-7-506","heading":"Transfer to custodial trustee by fiduciary or obligor; facility of payment.","body":"A. Unless otherwise directed by an instrument designating a custodial trustee pursuant to Section 45-7-504 NMSA 1978, a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator may make a transfer to an adult member of the beneficiary's family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds twenty thousand dollars ($20,000), the transfer is not effective unless authorized by the court.\nB. A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.","path":["Chapter 45 - Uniform Probate Code","ARTICLE 7 Trust Administration"],"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":"cf10c6883d32fbaedb07dedc78008cda34864bea19cccebc736108dd476cb072","source_id":"us-nm","stale":false,"prev":"us-nm/45-7-505","next":"us-nm/45-7-507"},"notice":"GroundRules: Original legal text. Not legal advice."}