{"data":{"id":"us-nm/46-3a-410","jurisdiction":"us-nm","citation":"46-3A-410","heading":"Liquidating asset.","body":"(a) As used in this section, \"liquidating asset\" means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration. The term includes a leasehold, patent, copyright, royalty right and right to receive payments during a period of more than one year under an arrangement that does not provide for the payment of interest on the unpaid balance. The term does not include a payment subject to Section 409 [46-3A-409 NMSA 1978], resources subject to Section 411 [46-3A-411 NMSA 1978], timber subject to Section 412 [46-3A-412 NMSA 1978], an activity subject to Section 414 [46-3A-414 NMSA 1978], an asset subject to Section 415 [46-3A-415 NMSA 1978] or any asset for which the trustee establishes a reserve for depreciation under Section 503 [46-3A-503 NMSA 1978].\n(b) A trustee shall allocate to income ten percent of the receipts from a liquidating asset and the balance to principal.","path":["Chapter 46 - Fiduciaries and Trusts","ARTICLE 3A Uniform Principal and Income"],"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":"51f7fa3eec4cc3f76de4b987e3e28982b0bd86e157f6a3efe147c3b6f3119beb","source_id":"us-nm","stale":false,"prev":"us-nm/46-3a-409","next":"us-nm/46-3a-411"},"notice":"GroundRules: Original legal text. Not legal advice."}