New Mexico Administrative Code
Title 3 - TAXATION
Chapter 6 - PROPERTY TAXES
Part 5 - CLASSIFICATION OF PROPERTY
Section 3.6.5.12 - LICENSE NOT A FRACTIONAL INTEREST
Universal Citation: 3 NM Admin Code 3.6.5.12
Current through Register Vol. 35, No. 18, September 24, 2024
Because it does not constitute an interest in real property, a license which does not confer the dominion and control necessary to constitute a leasehold is not included within the definition of "fractional interest" as that term is defined in Section 7-36-4 NMSA 1978.
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