New Mexico Statutes 45-3-802. Statutes of limitations
A. Unless an estate is insolvent, the personal representative, with the consent of all successors whose interests would be affected, may waive any defense of limitations available to the estate. If the defense is not waived, no claim that was barred by any statute of limitations at the time of the decedent‘s death shall be allowed or paid.
Terms Used In New Mexico Statutes 45-3-802
- Decedent: A deceased person.
- Statute: A law passed by a legislature.
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
B. The running of a statute of limitations measured from an event other than death or the giving of notice to creditors is suspended for four months after the decedent’s death but resumes thereafter as to claims not barred by other sections.
C. For purposes of a statute of limitations, the presentation of a claim pursuant to Section 45-3-804 N.M. Stat. Ann. is equivalent to commencement of a proceeding on the claim.