New Mexico Statutes 46-4-1. Trusts for state or political subdivision authorized
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Express trusts of real or personal property may be created by will or by declaration of trust by any person naming this state or any of its political subdivisions, municipalities or agencies as the beneficiary thereof.
Terms Used In New Mexico Statutes 46-4-1
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Personal property: All property that is not real property.