New Mexico Statutes > Chapter 63 > Article 5 – Foreclosure of Mortgage On Railroad Property
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Other versions
| § 63-5-1 | Foreclosure; rights of purchases; new corporation; |
| § 63-5-2 | [Powers of new corporation.] |
| § 63-5-3 | [Rights of new corporation.] |
| § 63-5-4 | [Sale of foreclosed railroad.] |
Terms Used In New Mexico Statutes > Chapter 63 > Article 5 - Foreclosure of Mortgage On Railroad Property
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.