Marriage – Postnuptial Agreements – New Mexico
Chapter 40, Article 2, 40-2-2.
Either husband or wife may enter into any engagement or transaction with the other, or with any other person respecting property, which either might, if unmarried; subject, in transactions between themselves, to the general rules of common law which control the actions of persons occupying confidential relations with each other.
A husband and wife cannot by any contract with each other alter their legal relations, except of their property, and except that they may agree in writing, to an immediate separation, and may make provisions for the support of either of them and of their children during their separation.
The mutual consent of the parties is a sufficient consideration for such an agreement as is mentioned in the last section.
Chapter 45, Article 6, Part 1, 45-6-101. Nonprobate transfers on death.
A provision for a nonprobate transfer on death in an insurance policy, contract of employment, bond, mortgage, promissory note, certificated or uncertificated security, account agreement, custodial agreement, deposit agreement, compensation plan, pension plan, individual retirement plan, employee benefit plan, trust, conveyance, deed of gift, marital property agreement or other written instrument of a similar nature is nontestamentary. This section includes a written provision that:
A. money or other benefits due to, controlled by or owned by a decedent before death must be paid after the decedent’s death to a person whom the decedent designates either in the instrument or in a separate writing, including a will, executed either before or at the same time as the instrument, or later;
B. money due or to become due under the instrument ceases to be payable in the event of death of the promisee or the promisor before payment or demand; or
C. any property controlled by or owned by the decedent before death that is the subject of the instrument passes to a person the decedent designates either in the instrument or in a separate writing, including a will, executed either before or at the same time as the instrument, or later.
Disclaimer: This law summary is not legal advice. If you are not an attorney, you should consult an attorney about serious legal matters.