Property Ownership
In New Mexico, 'dedication' of land refers to:
AA developer's personal commitment to quality construction
BThe voluntary or involuntary transfer of private land to public use (streets, parks, rights-of-way)✓ Correct
CA tax exemption for religious use
DAn easement for utility lines
Explanation
Land dedication is the transfer of private land to a public body for public use. In New Mexico subdivisions, developers typically dedicate streets and sometimes parks to the local government as part of the platting process.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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