AI Generated Opinion Summaries

This summary was computer-generated without any editorial revision. It is not official, has not been checked for accuracy, and is NOT citable.

Facts

• The case involves a dispute over money deposited into a pay-on-death (POD) CD account by the plaintiff's deceased mother. The plaintiff, who is self-represented, claimed to be the POD beneficiary and alleged that the defendant, US Eagle Federal Credit Union, wrongfully allowed the plaintiff's brother to withdraw funds from the POD account during their mother's lifetime (para 1-2).

Procedural History

• [Not applicable or not found]

Parties' Submissions

• Plaintiff: Argued that as the POD beneficiary, he was entitled to recover money that had been wrongfully withdrawn from the POD account by his brother during their mother's lifetime (para 1-2).
• Defendant: Supported the district court's decision to dismiss the plaintiff's complaint, presumably arguing that the plaintiff lacked standing or that the withdrawal was not wrongful under the law (para 1).

Legal Issues

• Whether the plaintiff had standing to sue for the recovery of money deposited into a pay-on-death (POD) CD account from which funds were withdrawn during the depositor's lifetime.

Disposition

• The appeal was affirmed, upholding the district court's order dismissing the plaintiff's complaint (para 5).

Reasons

• Per J. Miles Hanisee, with Jennifer L. Attrep and Kristina Bogardus concurring, the court found that the plaintiff lacked standing to bring the lawsuit based on NMSA 1978, Section 45-6-211(C) (1992), which states that a beneficiary in an account with a POD designation has no right to the sums on deposit during the lifetime of any party. The court noted that the plaintiff was named the personal representative of his mother's estate, indicating that any legal action on behalf of the estate should be brought by the personal representative, whether it is the plaintiff or someone else, as authorized by NMSA 1978, § 45-3-703(E) (2017) (paras 3-4).