New Mexico Statutes > Chapter 64 > Article 1 – Aviation Generally
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Terms Used In New Mexico Statutes > Chapter 64 > Article 1 - Aviation Generally
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- 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