Public-domain · open source
OpenJurist

§ 45-2-908 NMSA 1978

Definitions

Known as the Uniform Disclaimer of Property Interests Act

The act spans §§ 45-2-1001 to 45-2-914 (118 sections).

1978 Comp., § 45-2-908, enacted by Laws 2011, ch. 124, § 35.

As used in Sections 45-2-909 through 45-2-914 NMSA 1978:

A. "nonvested easement in gross" means a nonvested easement that is not created to benefit or that does not benefit the possessor of any real property in the possessor's use of it as the possessor;

B. "option in gross with respect to an interest in real property" means an option in which the holder of the option does not own any leasehold or other interest in the real property that is the subject of the option; and

C. "preemptive right in the nature of a right of first refusal in gross with respect to an interest in real property" means a preemptive right in which the holder of the preemptive right does not own any leasehold or other interest in the real property that is the subject of the preemptive right.

Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.