New Mexico Limited Power of Attorney Form
A New Mexico limited power of attorney is a type of power of attorney that is used for granting highly specific power(s) to an agent. The form can be used for many purposes, such as providing someone the power to sign a document on your behalf or manage your rental property. While there is no set time limit for the form, it should not be used for long-term responsibilities (e.g. over 1 year). It ends once the responsibilities have been carried out or the document reaches its expiration date (if one is set by the principal). The principal can also set a future start date so that the agent does not have power until that time.
Once the agent completes their task(s), the principal should issue a revocation of power of attorney. This should be given to the agent so they understand their legal obligations are no longer effective (essentially “releasing” them from the power of attorney). A general power of attorney is used when there are financial tasks that need to be fulfilled by the agent. A durable power of attorney lasts indefinitely, similar to the medical type, which is used for health-related decisions. To revoke the agreement, a New Mexico revocation form will be completed and signed.
Signing requirements (§ 45-5B-105) – The power of attorney must have the principal’s signature notarized. While it is recommended that the agent sign the form, it is not a legal requirement for them to do so.