Section 7-7-8 - Department to file certificate; final settlement of account. - New Mexico Statutes

7-7-8. Department to file certificate; final settlement of account.

A.     Except as otherwise provided in Subsection B of this section, the department shall file a certificate with the clerk of the county in which the estate or any part of it is located when:   

(1)     no taxes imposed by the Estate Tax Act [7-7-1 NMSA 1978] are due; or   

(2)     the taxes due under the Estate Tax Act have been paid.   

B.     If the estate is not required to file a federal estate tax return, the filing of a certificate by the department is not required.   

C.     No court shall allow the final settlement of the account of any personal representative until either a certificate is filed as provided in this section if the estate is required to file a federal estate tax return or the personal representative demonstrates that the estate was not required to file a federal estate tax return.