Effect of lessee's death or incapacity.

  1. Law
  2. New Mexico Statutes
  3. Financial Institutions and Regulations
  4. Banking Generally
  5. Effect of lessee's death or incapacity.

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Where a lessor, without knowledge of the death or of an adjudication of incapacity of the lessee, deals with his agent pursuant to a written power of attorney signed by such lessee, the transaction binds the lessee's estate and the lessee.

History: 1953 Comp., § 48-22-12, enacted by Laws 1963, ch. 305, § 12; 1975, ch. 257, § 8-123.

ANNOTATIONS

Cross references. — For proof of valid power of attorney, see 45-5-502 NMSA 1978.

For the Uniform Statutory Power of Attorney Act, see 45-5-601 NMSA 1978.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 472, 473, 476, 484.


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