New Mexico Statutes 55-2A-302. Title to and possession of goods
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Except as otherwise provided in this article, each provision of this article applies whether the lessor or a third party has title to the goods, and whether the lessor, the lessee or a third party has possession of the goods, notwithstanding any statute or rule of law that possession or the absence of possession is fraudulent.
Terms Used In New Mexico Statutes 55-2A-302
- goods: means all things that are movable at the time of identification to the lease contract or are fixtures (Section New Mexico Statutes 55-2A-103
- lessee: means a person who acquires the right to possession and use of goods under a lease. See New Mexico Statutes 55-2A-103
- lessor: means a person who transfers the right to possession and use of goods under a lease. See New Mexico Statutes 55-2A-103
- Statute: A law passed by a legislature.