Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2024 | Updated by FindLaw Staff
As used in the Real Estate Trust Act:
A. “real estate trust” means an unincorporated business trust organized and operated in conformity with the Real Estate Trust Act;
B. “declaration” means the written document establishing the real estate trust and all subsequent amendments to that document;
C. “trustees” means those natural persons designated as trustees in the declaration, and their successors in office;
D. “beneficial owners” means those persons who hold the beneficial interest in the real estate trust;
E. “real estate assets” means real property, real estate mortgages, real estate contracts, leasehold interests in real property and shares of beneficial interests in other real estate trusts, foreign or domestic, whether or not organized under the Real Estate Trust Act;
F. “real estate mortgages” includes all forms of liens on real property and all transfers of real property for security purposes, including deeds of trust;
G. “real estate contracts” means any contractual obligation for the sale and conveyance, or purchase and receipt of conveyance, of real property, subject to the terms and conditions of the contract; and
H. “trust estate” means the money, property and assets of a real estate trust.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 47. Property Law § 47-2-2. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-47-property-law/nm-st-sect-47-2-2/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)