All property, both real and personal, exempt from execution under the laws of this state shall not be conveyed by the deed of assignment, and if enumerated therein shall not pass to the assignee, but shall be reserved for the benefit of the assignor, or his family, to be set off and appraised by the appraiser mentioned in the first part of this chapter.
History: Laws 1889, ch. 71, § 35; C.L. 1897, § 2861; Code 1915, § 317; C.S. 1929, § 7-144; 1941 Comp., § 23-144; 1953 Comp., § 27-1-44.
ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Compiler's notes. — The words "in this chapter," the first time they appear, were inserted by the 1915 Code compilers; the words "this chapter," the second time they appear, were substituted for "this act." Presumably, "this chapter" refers to 56-9-1 to 56-9-55 NMSA 1978, whereas "this act" refers only to Laws 1889, ch. 67, §§ 1 to 9, presently compiled as 56-9-1 to 56-9-9 NMSA 1978.
Cross references. — For appraisal, see 56-9-13 to 56-9-17 NMSA 1978.
For exemptions from execution, see 42-10-1 to 42-10-13 NMSA 1978.
Individual exemptions unavailable to members of insolvent partnership. — Individual partners of an insolvent partnership are not entitled to exemption as head of a family out of the assets. In re Spitz Bros., 1896-NMSC-025, 8 N.M. 622, 45 P. 1122.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 6 Am. Jur. 2d Assignments for Benefit of Creditors §§ 58, 129.
Individual partner's right on assignment by firm for benefit of creditors to claim exemption in partnership property, 4 A.L.R. 308.
6A C.J.S. Assignments for Benefit of Creditors § 167.