New Mexico Statutes 40-3A-2. Definitions
Current as of: 2024 | Check for updates
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As used in the Uniform Premarital Agreement Act:
Terms Used In New Mexico Statutes 40-3A-2
- 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
- Personal property: All property that is not real property.
A. “premarital agreement” means an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage; and
B. “property” means an interest, present or future, legal or equitable, vested or contingent, in real or personal property, including income and earnings.