If property distributed in kind or a security interest therein is acquired for value by a purchaser from or lender to a distributee who has received an instrument or deed of distribution from the personal representative, or is so acquired by a purchaser from or lender to a transferee from such distributee, the purchaser or lender takes title free of rights of any interested person in the estate and incurs no personal liability to the estate, or to any interested person, whether or not the distribution was proper or supported by court order or the authority of the personal representative was terminated before execution of the instrument or deed. This section protects a purchaser from or lender to a distributee who, as personal representative, has executed a deed of distribution to himself, as well as a purchaser from or lender to any other distributee or transferee. To be protected under this provision, a purchaser or lender need not inquire whether a personal representative acted properly in making the distribution in kind, even if the personal representative and the distributee are the same person, or whether the authority of the personal representative had terminated before the distribution.

History: 1953 Comp., § 32A-3-910, enacted by Laws 1975, ch. 257, § 3-910; repealed and reenacted by Laws 1993, ch. 174, § 77.

Official comments. — See Commissioners on Uniform State Law official comment to 3-910 UPC.

Repeals and reenactments. — Laws 1993, ch. 174, § 77 repealed 45-3-910 NMSA 1978, as enacted by Laws 1975, ch. 257, § 3-910, and enacted a new section, effective July 1, 1993.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 26A C.J.S. Descent and Distribution § 78; 96 C.J.S. Wills § 1121.