§ 56-15-1 Short title
§ 56-15-2 Definitions
§ 56-15-3 Manner of giving notification
§ 56-15-4 Security instrument creates assignment of rents; assignment of rents creates security interest
§ 56-15-5 Recordation; perfection of security interest in rents; priority of conflicting interests in rents
§ 56-15-6 Enforcement of security interest in rents
§ 56-15-7 Enforcement by appointment of receiver
§ 56-15-8 Enforcement by notification to assignor
§ 56-15-9 Enforcement by notification to tenant
§ 56-15-10 Notification to tenant; form
§ 56-15-11 Effect of enforcement
§ 56-15-12 Application of proceeds
§ 56-15-13 Application of proceeds to expenses of protecting real property; claims and defenses of tenant
§ 56-15-14 Turnover of rents; commingling and identifiability of rents; liability of assignor
§ 56-15-15 Perfection and priority of assignee’s security interest in proceeds
§ 56-15-16 Priority subject to subordination
§ 56-15-17 Uniformity of application and construction
§ 56-15-18 Relation to Federal Electronic Signatures in Global and National Commerce Act
§ 56-15-19 Application to existing relationships

Terms Used In New Mexico Statutes > Chapter 56 > Article 15

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • 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.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC