Section 42-10-6 – Personal property used as a security under the Uniform Commercial Code is not exempt.
A secured creditor who has personal property of the debtor as security as provided by the Uniform Commercial Code [Chapter 55 NMSA 1978] may proceed according to the terms of the security instrument and the Uniform Commercial Code. The debtor cannot exempt personal property given to a secured creditor as security unless there be more […]
Section 42-10-7 – Taxes and garnishment excepted.
This article is not applicable to taxes or garnishment. History: 1953 Comp., § 24-5-7, enacted by Laws 1971, ch. 215, § 4. ANNOTATIONS Repeals and reenactments. — Laws 1971, ch. 215, § 4, repealed 24-5-7, 1953 Comp., relating to exemptions for head of family engaged in law practice, and enacted a new section. Am. Jur. […]
Section 42-10-8 – Repealed.
ANNOTATIONS Repeals. — Laws 1979, ch. 182, § 5, repealed 42-10-8 NMSA 1978, relating to the filing of claims of exemptions.
Section 42-10-9 – Homestead exemption.
Each person shall have exempt a homestead in a dwelling house and land occupied by the person or in a dwelling house occupied by the person although the dwelling is on land owned by another, provided that the dwelling is owned, leased or being purchased by the person claiming the exemption. Such a person has […]
Section 42-10-10 – Exemption in lieu of homestead.
A. Any resident of this state who does not own a homestead shall in addition to other exemptions hold exempt real or personal property in the amount of five thousand dollars ($5,000) in lieu of the homestead exemption. B. If the resident does not own a homestead, the sheriff or any other person or officer […]
Section 42-10-11 – When homestead exemption does not apply.
The provisions of this article [42-10-9 to 42-10-12 NMSA 1978] do not apply or extend to taxes, garnishment, recorded liens of mortgagees or lessors or recorded liens of laborers or materialmen for labor or materials furnished for the construction or repair of the dwelling house. History: 1953 Comp., § 24-6-3, enacted by Laws 1971, ch. […]
Section 42-10-12 – Repealed.
ANNOTATIONS Repeals. — Laws 1979, ch. 182, § 5, repealed 42-10-12 NMSA 1978, relating to filing homestead exemption claims.
Section 42-10-13 – Claim of exemption or priority.
Any person desiring to claim that property is exempt from execution or is subject to execution only after other property is used to satisfy a debt under the provisions of Sections 40-3-10 and 40-3-11 NMSA 1978 shall file his claim of exemption or priority in the appropriate court, or the right to claim such exemption […]
Section 42-10-1 – Exemptions of married persons or heads of households.
Personal property in the amount of five hundred dollars ($500), tools of the trade in the amount of fifteen hundred dollars ($1,500), one motor vehicle in the amount of four thousand dollars ($4,000), jewelry in the amount of twenty-five hundred dollars ($2,500), clothing, furniture, books, medical-health equipment being used for the health of the person […]
Section 42-10-2 – Exemptions of persons who support only themselves.
Personal property other than money in the amount of five hundred dollars ($500), tools of the trade in the amount of fifteen hundred dollars ($1,500), one motor vehicle in the amount of four thousand dollars ($4,000), jewelry in the amount of twenty-five hundred dollars ($2,500), clothing, furniture, books, medical-health equipment being used for the health […]