New Mexico Statutes
§ 55-9-617 — Rights of transferee of collateral
New Mexico § 55-9-617
This text of New Mexico § 55-9-617 (Rights of transferee of collateral) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.M. Stat. Ann. § 55-9-617 (2026).
Text
(a)A secured party's disposition of collateral after default:
(1)transfers to a transferee for value all of the debtor's rights in the collateral;
(2)discharges the security interest under which the disposition is made; and (3) discharges any subordinate security interest or other subordinate lien.
(b)A transferee that acts in good faith takes free of the rights and interests described in Subsection (a) of this section, even if the secured party fails to comply with this article or the requirements of any judicial proceeding.
(c)If a transferee does not take free of the rights and interests described in Subsection (a) of this section, the transferee takes the collateral subject to:
(1)the debtor's rights in the collateral;
(2)the security interest or agricultural lien under which th
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Legislative History
1978 Comp., § 55-9-617, enacted by Laws 2001, ch. 139, § 114.
Nearby Sections
15
§ 55-1-101
Short titles§ 55-1-102
Scope of article§ 55-1-104
Construction against implicit repeal§ 55-1-105
Severability§ 55-1-106
Use of singular and plural; gender§ 55-1-107
Section captions§ 55-1-109
Repealed§ 55-1-110
Repealed§ 55-1-201
General definitions§ 55-1-202
Notice; knowledge§ 55-1-204
Value§ 55-1-205
Reasonable time; seasonablenessCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 55-9-617, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/55/55-9-617.