New Mexico Statutes 42-9-3. [Situs of debts and intangible interest in property.]
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The situs of debts and obligations for the purpose of attachment shall be the domicile of the debtor or obliger [obligor] and the situs of intangible interests in property, real or personal, legal or equitable, shall be the place where such property is located.
Terms Used In New Mexico Statutes 42-9-3
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- 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