NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-7-11
Sale of property to pay tax
Official textnmonesource.comlast amended
A personal representative may sell so much of any property as is necessary to pay the taxes due under the Estate Tax Act [7-7-1 to 7-7-12 NMSA 1978]. A personal representative may sell so much of any property specifically bequeathed or devised as is necessary to pay the proportionate amount of the taxes due on the transfer of the property and the fees and expenses of the sale, unless the legatee or devisee pays the personal representative the proportionate amount of the taxes due.
Amendment history
1953 Comp., § 72-33-11, enacted by Laws 1973, ch. 345, § 11.
Source: official source (NMSA chapter on nmonesource.com)
In this article (18 sections)
- 7-7-1 · Short title
- 7-7-2 · Definitions
- 7-7-3 · Residents; tax imposed; credit for tax paid other state
- 7-7-4 · Nonresidents; tax imposed; exemption
- 7-7-5 · Tax return
- 7-7-6 · Date payment due
- 7-7-7 · 7-7-7
- 7-7-8 · Department to file certificate; final settlement of account
- 7-7-9 · 7-7-9
- 7-7-10 · Administration
- 7-7-11 · Sale of property to pay tax
- 7-7-12 · Liability for failure to pay tax before distribution or…
- 7-7-15 · Short title
- 7-7-16 · Definitions
- 7-7-17 · Payment of estate tax in works of art
- 7-7-18 · Procedure for payment in works of art
- 7-7-19 · Agreement on valuation
- 7-7-20 · Credit against tax