§ 58-18B-1 Short title
§ 58-18B-2 Legislative findings
§ 58-18B-3 Definitions
§ 58-18B-5 Trust accounts; escrow accounts; special accounts; pooled interest-bearing accounts; disposition of earned interest on certain accounts
§ 58-18B-6 Pooled interest-bearing escrow accounts authorized to be made available; computation of interest; reports
§ 58-18B-7 Use of money from fund
§ 58-18B-10 Conflict with federal requirements
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Terms Used In New Mexico Statutes > Chapter 58 > Article 18B - Low-Income Housing Trust

  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.