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The Financial Institutions Division supervises New Mexico state-chartered, federally insured banks and savings and loan associations.
A New Mexico durable statutory power of attorney form lets a person (?principal?) choose someone else (?agent?) to handle their financial decisions and affairs during their life. The agent selected is commonly a spouse or family member that is also included as a beneficiary in the principal's last will and testament.
Steps for Making a Financial Power of Attorney in New Mexico Create the POA Using a Statutory Form, Software, or Attorney. ... Sign the POA in the Presence of a Notary Public. ... Store the Original POA in a Safe Place. ... Give a Copy to Your Agent or Attorney-in-Fact. ... File a Copy With the Land Records Office.
Durable Power of Attorney Statutes Without a living will, a durable power of attorney can appoint a named person (sometimes called an ?agent? or a ?proxy?) to make health care decisions for a debilitated patient. New Mexico's durable power of attorney statutes are highlighted below.
What Are the Legal Requirements of a Financial POA in New Mexico? Mental Capacity for Creating a POA. ... Notarization Requirement. ... Create the POA Using a Statutory Form, Software, or Attorney. ... Sign the POA in the Presence of a Notary Public. ... Store the Original POA in a Safe Place. ... Give a Copy to Your Agent or Attorney-in-Fact.
A New Mexico durable statutory power of attorney form lets a person (?principal?) choose someone else (?agent?) to handle their financial decisions and affairs during their life. The agent selected is commonly a spouse or family member that is also included as a beneficiary in the principal's last will and testament.
The POA must be signed in the presence of a notary public to be valid. New Mexico law does not require a POA to be witnessed, but witnesses may strengthen the validity of the document if it is challenged.