The New Mexico statutory durable power of attorney authorizes an agent to act on behalf of another party and represent them in their financial affairs. In a statutory power of attorney, the person requiring representation (the “principal”) nominates their agents and designates a range of authority within which the agents can operate. The financial powers may be limited or all-encompassing and typically involve controlling and maintaining the principal’s real estate, business entities, personal effects, motor vehicles, and taxes. The “durable” classification of this document means that it shall continue to be effective even if the principal loses their capacity to make decisions.
Agent’s Duties – § 45-5B-114
Signing Requirements (§ 45-5B-105) – Notary Public
Statutory Form – § 45-5B-301
“durable”, with respect to a power of attorney, means not terminated by the principal’s incapacity;