Collateral for Separate Transaction, 76 A.L.R.4th 765 (1990). While some courts rely on the nature of the property — whether the property is characterized as realty or personalty, other courts have focused on the purpose of the law and the existing industry practice. Id.; see also David A. Redle, Article 9: Identifying Collateral as Real or Personal Property, 23 UCC L.J. 185 (1990) (providing a general discussion of the reasons offered in support of the various positions). We conclude that the security assignment of a real estate contract is not subject to the perfection requirements of Article 9. Both parties agree that, under New Mexico law, a vendor’s interest in a real estate contract is personalty, and not real property. Marks v. City of Tucumcari, 93 N.M. 4, 595 P.2d 1199 (1979) (<HOLDING>). Therefore, the issue is whether the
holding a judgment lien does not attach to a husbands curtesy interest in real estate holding that the land contract vendor was entitled to fire insurance benefits when the fire occurred after a judgment for possession was obtained by the vendor pursuant to summary forfeiture proceedings holding that a judgment lien attaches to a vendors interest in an executory land contract holding that the citys judgment lien could not attach to vendors legal title because the interest retained by a vendor under an executory contract of sale was personalty holding that a judgment lien does not at tach to a vendors interest in an executory land contract