Effect of lessee's death or incapacity.

  1. Law
  2. New Mexico Statutes
  3. Financial Institutions and Regulations
  4. Leasing of Safe Deposit Facilities
  5. Effect of lessee's death or incapacity.

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Unless otherwise provided in a written agreement, where a lessor, without knowledge of the death of or an adjudication of incapacity of the lessee, deals with his agent pursuant to a written power of attorney signed by the lessee, the transaction binds the lessee's estate and the lessee.

History: Laws 1991, ch. 51, § 22.

ANNOTATIONS

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


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