New Mexico power of attorney forms are used to nominate a representative to serve as attorney-in-fact for a principal and act on their behalf. An attorney-in-fact, otherwise known as an “agent,” is granted permission to make decisions relating to the principal’s healthcare, real estate, finances, vehicles, taxes, and even minor guardianship responsibilities if so desired. However, the specific rights granted to the agent will vary depending on the type of document chosen. If drafting a “durable” power of attorney, the agent may continue to perform their duties while the principal is incapacitated.
By Type (8)
Advance Directive – Provides instructions about healthcare and life-sustaining treatments to be administered while the principal is incapacitated.
Signing requirements: No statutory requirement; two (2) witnesses are recommended
Durable Power of Attorney – Allows an agent to represent another with respect to financial affairs. Unlike non-durable forms, this power of attorney will not be terminated if the principal becomes mentally incapacitated.
General (non-durable) Power of Attorney – Appoints a financial agent and grants legal powers which terminate once the principal becomes incapacitated.
Limited Power of Attorney – The authority granted through this power of attorney is limited in scope and shall terminate immediately after the agent fulfills their duties or after the expiration date is reached.
Motor Vehicle (MVD-11020) Power of Attorney – Allows another person to perform vehicle-related transactions with the New Mexico Motor Vehicle Division.
Signing requirements: Notarization
Minor (Child) Power of Attorney – The parent or guardian of a minor may use this form to delegate their parental responsibilities to another party for a period of six (6) months or less.
Real Estate Power of Attorney – Gives an agent permission to engage in real estate transactions such as buying, selling, or leasing property.
Tax (ACD-31102) Power of Attorney – Enables a taxpayer to have a representative act on their behalf for matters involving the New Mexico Taxation and Revenue Department.
Signing requirements: Taxpayer(s)