Asset Protection Society

Home New Mexico State Asset Protection Laws
New Mexico Asset Protection SummaryHomestead ExemptionsEach person residing in a homestead is entitled to a Homestead exemption of $75,000.  If two own the homestead jointly, each owner is entitled to a $75,000 exemption.  To see this statute, click here.

Life Insurance and Annuities

Cash surrender value of any life insurance policy is exempt.  To see this statute, click here.

Proceeds of any life insurance policy are not subject to debts of the deceased.  To see this statute, click here.

 

 

 

The cash surrender value of an annuity is exempt.  To see this statute, click here.

 

IRA

 

Proceeds from an IRA are exempt.  To see this statute, click here.To see the statute regarding support of yourself, click here.

Corporate Protections

Charging Order

 

Under the Uniform Partnership Act, a judgment creditor, as its exclusive remedy, may charge the debtor-partner’s partnership interest with payment of any unsatisfied debt with interest.  This charging order constitutes a lien on the debtor-partner’s transferable partnership interest.  To see this section of the Uniform Partnership Act, click here.

Under the Uniform Limited Partnership Act, a judgment creditor may seek to charge the debtor-partner’s partnership interest with payment of any unsatisfied debts with interest.  The judgment debtor has rights of an assignee of the debtor-partner’s transferable interest.  To view this section of the Uniform Limited Partnership Act, click here.

 

 

Business Acts

 

1.      Business Corporation Act

a.      To view this Act, click here.

2.      Limited Liability Company Act

a.      To view this Act, click here.

3.      Uniform Partnership Act

a.      To view this Act, click here.

4.      Uniform Limited Partnership Act

a.      To view this Act, click here.

The Asset Protection Society makes every attempt to keep the material on its web-pages up to date and accurate. Having said that, The APS does not warrant the material on this site and you should ALWAYS seek out the advice of a local advisor in your state who can give you individual advice for your particular situation and confirm the status of your state laws.