All such transfers as are herein declared to inure to the benefit of the creditors generally shall be subject to the control of courts of equity upon the bill [complaint] of any person interested, filed within six months after the mortgage or transfer is legally lodged for record or the delivery of the property or effects transferred.
History: Laws 1889, ch. 67, § 2; C.L. 1897, § 2819; Code 1915, § 275; C.S. 1929, § 7-102; 1941 Comp., § 23-102; 1953 Comp., § 27-1-2.
ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
The word "complaint" was inserted in compliance with Rule 1-007A NMRA, which prescribes allowed pleadings.
Compiler's notes. — The rules of civil procedure govern the procedure in the district courts of New Mexico in all suits of a civil nature whether cognizable as cases at law or in equity, with exceptions, and provide that there shall be one form of action which shall be known as a "civil action." See Rules 1-001 and 1-002 NMRA.
Time runs from delivery for six months. — On assignments of contracts for the sale of land made by a debtor in contemplation of insolvency and with a design to prefer one or more creditors, which operate as assignments and transfers of all the property and effects of such debtor and inure to the benefit of all his creditors, subject to the control of courts of equity action upon the complaint of any interested person, must be filed within six months after such assignments or transfers are legally lodged for record or the delivery of the property. Early Times Distillery Co. v. Zeiger, 1902-NMSC-001, 11 N.M. 221, 67 P. 734.
Time when suit barred. — Right to sue under this section was lost where seven months and a half had elapsed between the delivery of the property or effects transferred, and the time of filing bill. Early Times Distillery Co. v. Zeiger, 1902-NMSC-001, 11 N.M. 221, 67 P. 734; Early Times Distillery Co. v. Zeiger, 1897-NMSC-008, 9 N.M. 31, 49 P. 723.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 6 Am. Jur. 2d Assignments for Benefit of Creditors § 135.
6A C.J.S. Assignments for Benefit of Creditors § 135.