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Section 45-2-903 - Reformation — New Mexico Law | CourtGPT
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  4. Chapter 45 - Uniform Probate Code/
  5. Article 2 - Intestate Succession and Wills/
  6. Part 9 - Uniform Statutory Rule Against Perpetuities; Honorary Trusts; Trusts for Pets; Time Limits on Options in Gross and Certain Other Interests in Real Propertysub/
  7. Subpart 1 - Uniform Statutory Rule Against Perpetuities/
  8. Section 45-2-903 - Reformation
New Mexico Legal Code
Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor's manifested plan of distribution and is within the ninety years allowed by each Paragraph (2) of Subsections A, B or C of Section 45-2-901 NMSA 1978 if: A. a nonvested property interest or a power of appointment becomes invalid under Section 45-2-901 NMSA 1978; B. a class gift is not but might become invalid under Section 45-2-901 NMSA 1978 and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or C. a nonvested property interest that is not validated by Paragraph (1) of Subsection A of Section 45-2-901 NMSA 1978 can vest but not within ninety years after its creation. History: 1978 Comp., § 45-2-1003, enacted by Laws 1992, ch. 66, § 3; recompiled as 1978 Comp., § 45-2-903 by Laws 1993, ch. 174, § 66; 1995, ch. 210, § 26. ANNOTATIONSOfficial comments. — See Commissioners on Uniform State Law official comment to 2-903 UPC. The 1995 amendment, effective July 1, 1995, substituted 'Section 45-2-901 NMSA 1978' for 'Section 45-2-1001 NMSA 1978' in four places throughout the section.

Section 45-2-903 - Reformation

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