A. A compromise of any controversy is binding on all the parties thereto as to any lawful matter involving the estate. Matters that may be resolved by the compromise include:
(1) admission to probate of any instrument offered for formal probate as the will of a decedent;
(2) the construction, validity or effect of any governing instrument;
(3) the rights or interests in the estate of the decedent;
(4) the rights or interests of any successor; and
(5) the administration of the estate, if approved in a formal proceeding in the district court for that purpose.
B. A court-approved compromise is binding even though it may affect a trust or an inalienable interest. A compromise does not impair the rights of creditors or of taxing authorities that are not parties to it.
History: 1953 Comp., § 32A-3-1101, enacted by Laws 1975, ch. 257, § 3-1101; 1995, ch. 210, § 46; 2016, ch. 69, § 721.
Official comments. — See Commissioners on Uniform State Law official comment to 3-1101 UPC.
Cross references. — For private agreements amongst successors to decedent binding on personal representative, see 45-3-912 NMSA 1978.
The 2016 amendment, effective July 1, 2016, clarified language regarding the effect of approval of agreements involving trusts; in Subsection A, in the introductory sentence, after "thereto as to", added "any lawful matter involving the estate. Matters that may be resolved by the compromise include"; and in Subsection B, after the subsection designation, deleted "An approved" and added "A court-ordered", and after "taxing authorities" deleted "who" and added "that".
The 1995 amendment, effective July 1, 1995, substituted "governing instrument" for "probated will" at the end in Paragraph A(2).
Am. Jur. 2d, A.L.R. and C.J.S. references. — 31 Am. Jur. 2d Executors and Administrators § 86; 80 Am. Jur. 2d Wills §§ 1098 to 1101, 1104.
Power and responsibility of executor or administrator to compromise claim due estate, 72 A.L.R.2d 191.
Power and responsibility of executor or administrator to compromise claim against estate, 72 A.L.R.2d 243.
Power and responsibility of executor or administrator as to compromise or settlement of action or cause of action for death, 72 A.L.R.2d 285.
Family settlement of intestate estate, 29 A.L.R.3d 174.
94 C.J.S. Wills §§ 322, 325.
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