New Mexico Statutes > Chapter 55 > Article 9 > Part 1 > SUBPART 2.
Current as of: 2023 | Check for updates
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Other versions
| § 55-9-109 | Scope |
| § 55-9-109 v2 | Scope. (Effective January 1, 2024.) |
| § 55-9-110 | Security interests arising under Chapter 55, Article 2 or |
Terms Used In New Mexico Statutes > Chapter 55 > Article 9 > Part 1 > SUBPART 2.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- 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.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Statute: A law passed by a legislature.
- 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.