§ 40-3-1 Law applicable to property rights
§ 40-3-2 Methods for holding property
§ 40-3-3 Separation of property; admission to dwelling of spouse
§ 40-3-4 Contracts of indemnity; no obligation of community property unless signed by both husband and wife
§ 40-3-5 Disposition of real property without joinder where spouse is prisoner of war/person missing-in-action
§ 40-3-6 Short title
§ 40-3-7 Purpose of act
§ 40-3-8 Classes of property
§ 40-3-9 Definition of separate and community debts
§ 40-3-9.1 Gambling debts are separate debts of spouse incurring debt
§ 40-3-10 Priorities for satisfaction of separate debts
§ 40-3-10.1 Unreasonable debt
§ 40-3-11 Priorities for satisfaction of community debts
§ 40-3-12 Presumption of community property; presumption of separate property where property acquired by married woman prior to July 1, 1973
§ 40-3-13 Transfers, conveyances, mortgages and leases of real property; when joinder required
§ 40-3-14 Management and control of other community personal property
§ 40-3-15 Joinder of minor spouse in conveyances, mortgages and leases
§ 40-3-16 Disposition and management of real property without joinder and management of community personal property subject to management of one spouse alone where spouse has disappeared
§ 40-3-17 Judgments to be recorded

Terms Used In New Mexico Statutes > Chapter 40 > Article 3

  • Bequest: Property gifted by will.
  • Contract: A legal written agreement that becomes binding when signed.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Devise: To gift property by will.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Personal property: All property that is not real property.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.