There is a newer version of the New Mexico Statutes
2014 New Mexico Statutes
Chapter 48 - Liens and Mortgages
Section 3 Liens on Personal Property
Section 48-3-23 Possession; when lien shall not exist.
NM Stat § 48-3-23 (2014) What's This?
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.
History: 1941 Comp., 63-318, enacted by Laws 1953, ch. 125, 2; 1953 Comp., 61-3-21.
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