{"data":{"id":"us-nm/46-11-501","jurisdiction":"us-nm","citation":"46-11-501","heading":"Creditor claim; general power created by powerholder.","body":"A. As used in this section, \"power of appointment created by the powerholder\" includes a power of appointment created in a transfer by another person to the extent that the powerholder contributed value to the transfer.\nB. Appointive property subject to a general power of appointment created by the powerholder is subject to a claim of a creditor of the powerholder or of the powerholder's estate to the extent provided in the Uniform Voidable Transactions Act [56-10-14 to 56-10-29 NMSA 1978].\nC. Subject to Subsection B of this section, appointive property subject to a general power of appointment created by the powerholder is not subject to a claim of a creditor of the powerholder or the powerholder's estate to the extent the powerholder irrevocably appointed the property in favor of a person other than the powerholder or the powerholder's estate.\nD. Subject to Subsections B and C of this section, and notwithstanding the presence of a spendthrift provision or whether the claim arose before or after the creation of the power of appointment, appointive property subject to a general power of appointment created by the powerholder is subject to a claim of a creditor of:\n(1) the powerholder, to the same extent as if the powerholder owned the appointive property, if the power is presently exercisable; and\n(2) the powerholder's estate, to the extent the estate is insufficient to satisfy the claim and subject to the right of a decedent to direct the source from which liabilities are paid, if the power is exercisable at the powerholder's death.","path":["Chapter 46 - Fiduciaries and Trusts","ARTICLE 11 Uniform Powers of Appointment"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18547/index.do","current_through":"2024-04-26","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"9575648406d0e7552d5d7ea01d654cd6599df4ebd7b8777aa9372b917d1b85e2","source_id":"us-nm","stale":false,"prev":"us-nm/46-11-407","next":"us-nm/46-11-502"},"notice":"GroundRules: Original legal text. Not legal advice."}