There Is a Newer Version
of
the New Mexico Statutes
2011 New Mexico Statutes
Chapter 48: Liens and Mortgages
Article 3: Liens on Personal Property, 48-3-1 through 48-3-29
Section 48-3-23: Possession; when lien shall not exist.
Universal Citation:
NM Stat § 48-3-23 (1996 through 1st Sess 50th Legis)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
48-3-23. Possession; when lien shall not exist.
The possession required under this act [48-3-22 to 48-3-27 NMSA 1978] shall be physical custody. No lien shall exist where:
A. the article has not been delivered to the physical custody of the person or firm claiming the lien;
B. without fraud or false representation, the physical custody of the article has been surrendered by the person or firm performing the work or service;
C. the person or firm performing the work or service has accepted collateral security for payment of the amount due.
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