New Mexico Statutes Chapter 45. Uniform Probate Code § 45-3-1101. Effect of approval of agreements involving trusts, inalienable interests or interests of third persons

A. A compromise of any controversy is binding on all the parties thereto as to any lawful matter involving the estate. Matters that may be resolved by the compromise include:

B. A court-approved compromise is binding even though it may affect a trust or an inalienable interest. A compromise does not impair the rights of creditors or of taxing authorities that are not parties to it.