Estate Inventory and Appraisement (New Mexico)

INVENTORY AND APPRAISEMENT OF THE ESTATE

[☐ DISTRICT COURT ☐ PROBATE COURT] — [____________________] COUNTY, NEW MEXICO

1. CAPTION AND CASE INFORMATION

2. PERSONAL REPRESENTATIVE INFORMATION

3. DECEDENT INFORMATION

Inventory scope: List the decedent's ownership interest and its estimated date-of-death value. Mark community (C) or separate (S) where applicable. For a community asset, identify the whole asset in the description and record the decedent's share in the value column; § 45-2-807(A) generally assigns one-half to the surviving spouse and one-half to the decedent, subject to its joint-tenancy exception. Section 45-2-807(B) also makes the entire community property subject to community debts. Record the type and amount of any encumbrance on each item.

4. STATEMENT OF DUTY AND DEADLINE (§ 45-3-706)

Pursuant to N.M.S.A. 1978, § 45-3-706(A), within three (3) months after appointment, the personal representative (who is not a special administrator or a successor to a representative who has previously discharged this duty) shall prepare an inventory of property owned by the decedent at the time of death, listing it with reasonable detail and indicating, as to each listed item, its estimated value as of the date of the decedent's death and the type and amount of any encumbrance that may exist with reference to any item.

Pursuant to § 45-3-706(B), the personal representative shall send a copy of the inventory to interested persons who request it, and may also file the original of the inventory with the appropriate court.

☐ This original inventory was prepared within three (3) months after appointment.
☐ This is a supplementary inventory or appraisement under § 45-3-708 because property was omitted from the original inventory or an item's value or description was erroneous or misleading. The new or revised estimated value is stated as of the decedent's death.
☐ A copy was sent to each interested person who requested it.
☐ The original was filed with the appropriate court (☐ voluntarily ☐ as ordered by the court).

5. APPRAISAL METHOD AND EMPLOYMENT OF APPRAISERS (§ 45-3-707)

Record each item's estimated value as of the date of the decedent's death (§ 45-3-706(A)). Under § 45-3-707, the personal representative may employ qualified and disinterested appraisers to assist in ascertaining the fair market value of any asset whose value may be subject to reasonable doubt. Enter the name and address of any appraiser next to each item appraised.

SCHEDULE A — REAL PROPERTY

Schedule A Subtotal (decedent interest): $[________________]

SCHEDULE B — TANGIBLE PERSONAL PROPERTY

Schedule B Subtotal: $[________________]

SCHEDULE C — CASH, BANK & FINANCIAL ACCOUNTS

Schedule C Subtotal: $[________________]

SCHEDULE D — SECURITIES & BUSINESS INTERESTS

Schedule D Subtotal: $[________________]

SCHEDULE E — OTHER ASSETS

Schedule E Subtotal: $[________________]

6. RECAPITULATION / SUMMARY

7. PERSONAL REPRESENTATIVE STATEMENT

I, [PERSONAL REPRESENTATIVE FULL LEGAL NAME], the personal representative of the Estate of [DECEDENT FULL LEGAL NAME], state that the foregoing inventory lists, with reasonable detail, all property owned by the decedent at the time of death that has come to my knowledge, with each item's estimated value as of the date of the decedent's death and the type and amount of any encumbrance, to the best of my knowledge and belief (N.M.S.A. 1978, § 45-3-706).

Executed on [__/__/____] at [MUNICIPALITY], New Mexico.

Signature of Personal Representative: ______________________________________

Printed Name: [PERSONAL REPRESENTATIVE FULL LEGAL NAME]

8. RECORD OF DELIVERY / FILING (§ 45-3-706(B))

A copy of this inventory and appraisement was sent to each interested person who requested it. The original ☐ was ☐ was not filed with the court.

Signature: ______________________________________
Printed Name: [PERSONAL REPRESENTATIVE / ATTORNEY NAME]
NM Bar No.: [________________] (if attorney)
Address / Telephone / Email: [________________________________]

OPTIONAL SUPPORTING RECORDS

☐ Supporting date-of-death statements, if available (Schedules C–E)
☐ Legal description / deed reference for each parcel of real property (Schedule A)
☐ Supporting details for a supplementary inventory, when applicable (§ 45-3-708)
☐ Record of requests for copies from interested persons (§ 45-3-706(B))

SOURCES AND REFERENCES

• N.M.S.A. 1978, § 45-3-706 — Duty of personal representative; inventory and appraisement within 3 months of appointment; estimated value as of date of death; sent to interested persons who request it; original may be filed with the court.
• N.M.S.A. 1978, § 45-3-707 — Employment of qualified and disinterested appraisers; appraiser's name and address noted with the item appraised.
• N.M.S.A. 1978, § 45-3-708 — Supplementary inventory for after-discovered property or erroneous/misleading values or descriptions.
• N.M.S.A. 1978, § 45-2-807 — Surviving spouse and decedent interests in community property; community-debt treatment and joint-tenancy exception.
• New Mexico Courts (District / Probate): https://www.nmcourts.gov/