New Mexico Order Valuing Collateral is a court order issued by a judge in the state of New Mexico to provide an official valuation of collateral in order to protect the rights of the parties involved in a transaction. The order is typically used when a lender needs to protect its interests in a loan by ensuring that the collateral is worth at least as much as the loan amount. The order requires that a qualified appraiser be appointed to assess the value of the collateral. There are two types of New Mexico Order Valuing Collateral: a judicial order and a statutory order. A judicial order is obtained by a judge upon the request of the parties involved in the transaction. A statutory order is available to lenders that have a valid statutory lien on the collateral. Both types of orders are used to ensure that the collateral is worth at least the amount of the loan and to protect the lender's interests in the event of a default.
New Mexico Order Valuing Collateral
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