New Mexico Statutes 21-14A-5.2. Property ownership prohibited
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An off-campus board may not own, accept as a gift or purchase land, buildings or other form of real property.
Terms Used In New Mexico Statutes 21-14A-5.2
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.