New Mexico Statutes 39-5-1.2. [“Real estate” and “real property” defined.]
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As used in N.M. Stat. Ann. Chapter 39, Article 5 “real estate” or “real property” includes leaseholds. As used in this section, “leasehold” means an estate in real estate or real property held under a lease.
Terms Used In New Mexico Statutes 39-5-1.2
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.