New Mexico Statutes 56-8-10. Farm, ranch and agriculture loans
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The provisions of Subsections C, D and E of Section 56-8-9 N.M. Stat. Ann. are not applicable to loans secured by a first mortgage on farm, ranch or agricultural real estate where the purpose of the loan is primarily for farming, ranching or agricultural purposes.
Terms Used In New Mexico Statutes 56-8-10
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.