“Secured claim” means any claim secured by mortgage, trust deed, pledge, deposit as security, escrow or otherwise, but not including special deposit claims or claims against general assets. “Secured claims” also include claims which more than four (4) months prior to commencement of delinquency proceedings in the state of the insurer’s domicile have become liens upon specific assets through judicial process and not invalidated.

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Terms Used In New Mexico Statutes 59A-41-15

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.