New Mexico Statutes 7-7-8. Department to file certificate; final settlement of account
A. Except as otherwise provided in Subsection B of this section, the department shall file a certificate with the clerk of the county in which the estate or any part of it is located when:
Terms Used In New Mexico Statutes 7-7-8
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(1) no taxes imposed by the Estate Tax Act N.M. Stat. Ann. § 7-7-1 to 7-7-12 are due; or
(2) the taxes due under the Estate Tax Act have been paid.
B. If the estate is not required to file a federal estate tax return, the filing of a certificate by the department is not required.
C. No court shall allow the final settlement of the account of any personal representative until either a certificate is filed as provided in this section if the estate is required to file a federal estate tax return or the personal representative demonstrates that the estate was not required to file a federal estate tax return.