Property Ownership
In New Mexico, the term 'situs' in property law refers to:
AThe legal right to use a property
BThe physical location (site) of the property, which determines which state's laws apply✓ Correct
CThe property's assessed value
DThe type of deed used to convey the property
Explanation
Situs means the location of the property. Real property is governed by the law of the state where it is physically located—New Mexico's laws govern all real property transactions for property situated in New Mexico.
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