Statutes > New Mexico Statutes > Chapter 46 - Fiduciaries and Trusts. > Article 10 - Uniform Disclaimer of Property Interests Act, 46-10-1 through 46-10-17. > Section 46-10-10 - Disclaimer by appointee, object or taker in default of exercise of power of appointment.

Section 46-10-10 - Disclaimer by appointee, object or taker in default of exercise of power of appointment.

46-10-10. Disclaimer by appointee, object or taker in default of exercise of power of appointment.

A.     A disclaimer of an interest in property by an appointee of a power of appointment takes effect as of the time the instrument by which the holder exercises the power becomes irrevocable.   

B.     A disclaimer of an interest in property by an object or taker in default of an exercise of a power of appointment takes effect as of the time the instrument creating the power becomes irrevocable.