New Mexico § 46-3A-405 - Rental property
Full text of New Mexico New Mexico Statutes Annotated § 46-3A-405 — Rental property, with citation guidance and answers to common questions.
§ 46-3A-405. Rental property
To the extent that a trustee accounts for receipts from rental property pursuant to
this section, the trustee shall allocate to income an amount received as rent of real
or personal property, including an amount received for cancellation or renewal of
a lease. An amount received as a refundable deposit, including a security deposit or a deposit
that is to be applied as rent for future periods, must be added to principal and held
subject to the terms of the lease and is not available for distribution to a beneficiary
until the trustee's contractual obligations have been satisfied with respect to that
amount.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 46-3A-405
What does New Mexico Statutes Annotated § 46-3A-405 cover?
Section 46-3A-405 ("Rental property") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 46-3A-405?
A common citation format is "New Mexico Statutes Annotated § 46-3A-405" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 46-3A-405 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.