Estate Inventory and Appraisement (New Mexico)

INVENTORY AND APPRAISEMENT OF THE ESTATE

[☐ DISTRICT COURT ☐ PROBATE COURT] — [____________________] COUNTY, NEW MEXICO

1. CAPTION AND CASE INFORMATION

2. PERSONAL REPRESENTATIVE INFORMATION

3. DECEDENT INFORMATION

4. STATEMENT OF DUTY AND DEADLINE (§ 45-3-706)

Pursuant to N.M.S.A. 1978, § 45-3-706(A), within three (3) months after appointment, the personal representative (who is not a special administrator or a successor to a representative who has previously discharged this duty) shall prepare an inventory of property owned by the decedent at the time of death, listing it with reasonable detail and indicating, as to each listed item, its estimated value as of the date of the decedent's death and the type and amount of any encumbrance that may exist with reference to any item.

Pursuant to § 45-3-706(B), the personal representative shall send a copy of the inventory to interested persons who request it, and may also file the original of the inventory with the appropriate court.

☐ This inventory was prepared within three (3) months after appointment.
☐ A copy was sent to each interested person who requested it.
☐ The original is filed with the court (☐ voluntarily ☐ as ordered by the court).

5. APPRAISAL METHOD AND EMPLOYMENT OF APPRAISERS (§ 45-3-707)

Each item is valued at its estimated fair market value as of the date of the decedent's death (§ 45-3-706(A)). Under § 45-3-707, the personal representative may employ qualified and disinterested appraisers to assist in ascertaining the fair market value of any asset whose value may be subject to reasonable doubt; different persons may be employed to appraise different kinds of assets. The name and address of any appraiser is indicated in the inventory with the item the appraiser appraised.

SCHEDULE A — REAL PROPERTY

Schedule A Subtotal (gross value): $[________________]

SCHEDULE B — TANGIBLE PERSONAL PROPERTY

Schedule B Subtotal: $[________________]

SCHEDULE C — CASH, BANK & FINANCIAL ACCOUNTS

Schedule C Subtotal: $[________________]

SCHEDULE D — SECURITIES & BUSINESS INTERESTS

Schedule D Subtotal: $[________________]

SCHEDULE E — OTHER ASSETS

Schedule E Subtotal: $[________________]

6. RECAPITULATION / SUMMARY

7. VERIFICATION / DECLARATION OF PERSONAL REPRESENTATIVE

I, [PERSONAL REPRESENTATIVE FULL LEGAL NAME], the personal representative of the Estate of [DECEDENT FULL LEGAL NAME], declare under penalty of perjury under the laws of the State of New Mexico that I have made a diligent search and reasonable inquiry for property of the decedent, and that the foregoing inventory lists, with reasonable detail, all property owned by the decedent at the time of death that has come to my knowledge, with each item's estimated value as of the date of the decedent's death and the type and amount of any encumbrance, to the best of my knowledge and belief (N.M.S.A. 1978, § 45-3-706).

Executed on [__/__/____] at [MUNICIPALITY], New Mexico.

Signature of Personal Representative: ______________________________________

Printed Name: [PERSONAL REPRESENTATIVE FULL LEGAL NAME]

8. APPRAISER'S CERTIFICATE (§ 45-3-707) — if appraiser employed

I, the undersigned appraiser employed under N.M.S.A. 1978, § 45-3-707, certify that I am qualified and disinterested and that I have appraised the asset(s) identified above at their fair market value as of the date of the decedent's death to the best of my ability.

Appraiser Signature: ______________________________ Date: [__/__/____]
Printed Name / Address: [____________________] Asset(s) appraised: [____________________]

9. CERTIFICATE OF SERVICE / FILING (§ 45-3-706(B))

A copy of this inventory and appraisement was sent to each interested person who requested it; the original ☐ is / ☐ is not filed with the court.

Signature: ______________________________________
Printed Name: [PERSONAL REPRESENTATIVE / ATTORNEY NAME]
NM Bar No.: [________________] (if attorney)
Address / Telephone / Email: [________________________________]

ATTACHMENTS CHECKLIST

☐ Date-of-death statements for each bank, investment, and retirement account (Schedules C–E)
☐ Legal description / deed reference for each parcel of real property (Schedule A)
☐ Appraiser's certificate and credentials, where an appraiser was employed (§ 45-3-707)
☐ Supplementary Inventory for after-discovered property or corrected values (§ 45-3-708)
☐ Written requests for copies from interested persons (§ 45-3-706(B))

SOURCES AND REFERENCES

• N.M.S.A. 1978, § 45-3-706 — Duty of personal representative; inventory and appraisement within 3 months of appointment; estimated value as of date of death; sent to interested persons who request it; original may be filed with the court.
• N.M.S.A. 1978, § 45-3-707 — Employment of qualified and disinterested appraisers; appraiser's name and address noted with the item appraised.
• N.M.S.A. 1978, § 45-3-708 — Supplementary inventory for after-discovered property or erroneous/misleading values or descriptions.
• N.M.S.A. 1978, § 45-3-709 — Duty of personal representative regarding possession of estate.
• New Mexico Courts (District / Probate): https://www.nmcourts.gov/