reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 6 - Agricultural Landlord Liens › Section 48-6-5 - Distress warrant.

When any rent or advances shall become due, or the tenant shall be about to remove from such leased or rented premises, or to remove his property from such premises, it shall be lawful for the person to whom the rent or advances are payable, his agent, attorney, assigns, heirs or legal representatives, to apply to a justice of the peace [magistrate] of the precinct where the premises are situated, or in which the property upon which a lien for rents or advances exist, may be found, or to any justice [magistrate] having jurisdiction of the cause of action, for a warrant to seize the property of such tenant; provided, that when a distress warrant shall be issued by any justice [magistrate], other than the justice of the peace [magistrate] of the precinct in which the rented premises may be situated, or in which the defendant may reside, such warrant shall be made returnable to, and the affidavit and bond upon which it is issued shall be transmitted by, the justice [magistrate] issuing such distress warrant, to the justice [magistrate] of the precinct in which the rented premises may be situated, or in which the defendant may reside.
History:
Laws 1921, ch. 182, § 5; C.S. 1929, § 82-105; 1941 Comp., § 48-1505; 1953 Comp., § 61-6-5.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law. For justice of the peace construed to refer to magistrate court,
see
35-1-38 NMSA 1978. Pursuant to Laws 1968, ch. 62, § 40, "magistrate" was inserted in brackets throughout this section.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
52 C.J.S. Landlord and Tenant §§ 661, 685 to 692.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 6 - Agricultural Landlord Liens › Section 48-6-6 - Oath and bond.

The plaintiff, his agent or attorney, shall make oath that the amount sued for is for rent or advances, such as are mentioned in the first section [48-6-1 NMSA 1978] of this act, or shall produce a writing signed by such tenant to that effect, and shall further swear that such warrant is not sued out for the purpose of vexing and harrassing [harassing] the defendant; and the person applying for such warrant shall execute a bond with two or more good and sufficient sureties, to be approved by the justice of the peace [magistrate], payable to the defendant, conditioned that the plaintiff will pay the defendant such damages as he may sustain in case such warrant has been illegally and unjustly sued out, which bond shall be filed among the papers of the cause; and, in case the suit be finally decided in favor of the defendant, he may bring suit against the plaintiff and his sureties on such bond, and shall recover such damages as may be awarded to him by the proper tribunal.
History:
Laws 1921, ch. 182, § 6; C.S. 1929, § 82-106; 1941 Comp., § 48-1506; 1953 Comp., § 61-6-6.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
For justice of the peace construed to refer to magistrate court,
see
35-1-38 NMSA 1978. Pursuant to Laws 1968, ch. 62, § 40, "magistrate" was inserted in brackets throughout this section.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 6 - Agricultural Landlord Liens › Section 48-6-7 - Distress warrant, issued by whom.

Upon the filing of such oath and bond, it shall be the duty of such justice of the peace [magistrate] to issue his warrant to the sheriff or any constable of the county, commanding him to seize the property of the defendant, or so much as will satisfy the demand, which warrant shall be returnable to said justice [magistrate].
History:
Laws 1921, ch. 182, § 7; C.S. 1929, § 82-107; 1941 Comp., § 48-1507; 1953 Comp., § 61-6-7.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law. For justice of the peace construed to refer to magistrate court,
see
35-1-38 NMSA 1978. Pursuant to Laws 1968, ch. 62, § 40, "magistrate" was inserted in brackets throughout this section.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 6 - Agricultural Landlord Liens › Section 48-6-8 - Duty of officer.

It shall be the duty of the officer to whom such warrant is directed to seize the property of such tenant, or so much thereof as shall be of value sufficient to satisfy such debts and costs, and the same in his possession safely keep, unless the same is replevied as herein provided, and make due return thereof to the court to which said warrant is returnable.
History:
Laws 1921, ch. 182, § 8; C.S. 1929, § 82-108; 1941 Comp., § 48-1508; 1953 Comp., § 61-6-8.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 6 - Agricultural Landlord Liens › Section 48-6-9 - Defendant may replevy.

The defendant shall have the right at any time within ten days from the date of said levy to replevy the property seized, by giving bond payable to the plaintiff, with two or more good and sufficient sureties in double the amount of the debt, or, at his election, for the value of the property so seized, conditioned that if the defendant be cast in the action he shall satisfy the judgment that may be rendered against him or pay the estimated value of the property, with lawful interest thereon from the date of the bond.
History:
Laws 1921, ch. 182, § 9; C.S. 1929, § 82-109; 1941 Comp., § 48-1509; 1953 Comp., § 61-6-9.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 6 - Agricultural Landlord Liens › Section 48-6-10 - Judgment against sureties.

When the property levied on has been replevied as provided in the preceding section [48-6-9 NMSA 1978] and final judgment shall be rendered against the defendant, such judgment shall be also against him and his sureties on his replevy bond for the amount of the judgment, interest and costs, or for the value of the property replevied and interest, according to the terms of such bond.
History:
Laws 1921, ch. 182, § 10; C.S. 1929, § 82-110; 1941 Comp., § 48-1510; 1953 Comp., § 61-6-10.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 6 - Agricultural Landlord Liens › Section 48-6-11 - Perishable property sold.

If the property is of a perishable or wasting kind, and the defendant fails to replevy as herein provided, the officer making the levy, or the plaintiff, or the defendant, may apply to the court, or judge thereof, to which the warrant is returnable, either in term time or vacation, for an order to sell such property; and if any person other than the defendant shall apply for such order of sale, the court shall not grant such order, unless the person applying shall file with such court an obligation, payable to the defendant, with two or more good and sufficient sureties, to be approved by said court, that they will be responsible to the defendant for such damages as he may sustain in case such sale be illegally and unjustly applied for, or be illegally and unjustly made, which sale shall be conducted as sales under execution.
History:
Laws 1921, ch. 182, § 11; C.S. 1929, § 82-111; 1941 Comp., § 48-1511; 1953 Comp., § 61-6-11.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 6 - Agricultural Landlord Liens › Section 48-6-12 - Summons for defendant.

It shall be the duty of the justice of the peace [magistrate], at the time he issues the warrant to issue a summons to the defendant requiring him to answer before such justice [magistrate], if he has jurisdiction to finally try the cause, and, upon it being returned served, to proceed to judgment as in ordinary cases. If such justice of the peace [magistrate] has not jurisdiction to finally try the case, by reason of any provisions herein contained, he shall forthwith transfer all papers to the justice of the peace [magistrate] having jurisdiction to finally try said cause, who shall without delay issue summons to defendant, giving him notice of the suit and the time of the setting as provided by law; provided, that if the defendant has removed from the county without service, notice of suit shall be given him, as now provided by law, in attachment suit in justice of the peace [magistrate] court in this state, when the defendant is absent from the county or cannot be found in the county.
History:
Laws 1921, ch. 182, § 12; C.S. 1929, § 82-112; 1941 Comp., § 48-1512; 1953 Comp., § 61-6-12.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law. For justice of the peace construed to refer to magistrate court,
see
35-1-38 NMSA 1978. Pursuant to Laws 1968, ch. 62, § 40, "magistrate" was inserted in brackets throughout this section.
Cross references.
— For attachment in magistrate court,
see
35-9-2 NMSA 1978.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 6 - Agricultural Landlord Liens › Section 48-6-13 - Rights of tenant.

Nothing in this act [48-6-1 to 48-6-16 NMSA 1978] shall be so construed as to prevent landlords and tenants from entering into such stipulations or contracts in regard to rents and advances as they may think proper; and, should the landlord, without any default on the part of the tenant or lesseess [lessee], fail to comply in any respect with his part of the contract, he shall be responsible to said tenant or lessee for whatever damages may be sustained thereby; and to secure such damages to such tenant or lessee, he shall have a lien on all the property in his possession not exempt from forced sale, as well as upon all rents due to said landlord under said contract.
History:
Laws 1921, ch. 182, § 13; C.S. 1929, § 82-113; 1941 Comp., § 48-1513; 1953 Comp., § 61-6-13.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
Tenant's right to lien, in absence of agreement therefor, for improvements made on leased premises, 25 A.L.R.2d 885.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 6 - Agricultural Landlord Liens › Section 48-6-14 - Tenants shall not sublet without consent, etc.

If lands are rented by the landlord to any person or persons, such person or persons shall not assign their lease or sublet said lands, or any part thereof, during the term of said lease to any other person without first obtaining the consent of the landlord, his agent or attorney.
History:
Laws 1921, ch. 182, § 14; C.S. 1929, § 82-114; 1941 Comp., § 48-1514; 1953 Comp., § 61-6-14.
ANNOTATIONS
Am. Jur. 2d, A.L.R. and C.J.S. references. —
3 C.J.S. Agriculture §§ 112, 113, 118.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 6 - Agricultural Landlord Liens › Section 48-6-15 - Suit in district court.

When the amount in controversy is in excess of two hundred dollars [$200], suit may be instituted in the district court in the county in which the premises is [are] situated, or in which the defendant resides or may be found, by the filing in said court of complaint, affidavit and bond, with the clerk of said court as are required by this act [48-6-1 to 48-6-16 NMSA 1978] to be filed in the justice of the peace [magistrate] court, and notice of suit and trial thereof shall be had according to law and the rules of said court in civil cases.
History:
Laws 1921, ch. 182, § 15; C.S. 1929, § 82-115; 1941 Comp., § 48-1515; 1953 Comp., § 61-6-15.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law. For justice of the peace construed to refer to magistrate court,
see
35-1-38 NMSA 1978. Pursuant to Laws 1968, ch. 62, § 40, "magistrate" was inserted in brackets throughout this section.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 6 - Agricultural Landlord Liens › Section 48-6-16 - [Construction of act.]

This act [48-6-1 to 48-6-16 NMSA 1978] shall not be construed to repeal, amend or modify Section 19 [48-3-5 NMSA 1978] of Chapter 65 of the Session Laws of 1917.
History:
Laws 1921, ch. 182, § 16; C.S. 1929, § 82-116; 1941 Comp., § 48-1516; 1953 Comp., § 61-6-16.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-2 - Repealed.

History:
Laws 1927, ch. 43, § 1; C.S. 1929, § 117-201; 1941 Comp., § 63-402; 1953 Comp., § 61-7-2; repealed by Laws 2009, ch. 234, § 18.
ANNOTATIONS
Repeals.
— Laws 2009, ch. 234, § 18 repealed 48-7-2 NMSA 1978, as enacted by Laws 1927, ch. 43, § 1, relating to assignments of mortgages, recordings, person entitled to payment, the effect of failure to record and assignee's action against assignor, effective January 1, 2010. For provisions of former section,
see
the 2009 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-3 - Repealed.

History:
Laws 1927, ch. 43, § 2; C.S. 1929, § 117-202; 1941 Comp., § 63-403; 1953 Comp., § 61-7-3; repealed by Laws 2009, ch. 234, § 18.
ANNOTATIONS
Repeals.
— Laws 2009, ch. 234, § 18 repealed 48-7-3 NMSA 1978, as enacted by Laws 1927, ch. 43, § 2, relating to recording of prior assignments, the effect of failure to record and actual notice of assignment, effective January 1, 2010. For provisions of former section,
see
the 2009 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-4.1 - Alternative form of release of mortgage; filing by title insurer.

A. If, within ninety days after full satisfaction of a debt or evidence of debt secured by a mortgage or deed of trust upon any real estate, evidence of the full satisfaction has not been recorded pursuant to the provisions of Section 48-7-4 NMSA 1978, a title insurer may prepare and record a release of the mortgage or deed of trust; provided, however, no release shall be recorded by the title insurer unless the insurer has, no later than ten days prior to the date of recording, mailed notice of the intent to record to the last known address of the mortgagee, the trustee and beneficiary of a deed of trust or the assignee of record of the debt or evidence of debt.
B. A release recorded pursuant to this section shall include:
(1) the name of the mortgagee or trustee and beneficiary;
(2) the name of the mortgagor or trustor;
(3) the recording reference to the mortgage or deed of trust;
(4) a recital that the obligation secured by the mortgage or deed of trust has been paid in full; and
(5) the date and amount of payment.
C. A release recorded pursuant to this section shall be deemed to be the equivalent of a release recorded pursuant to Section 48-7-4 NMSA 1978.
D. In addition to any other remedy, a title insurer recording a release pursuant to this section shall be liable to any mortgagee or beneficiary of a deed of trust for damages, including attorney fees, that the mortgagee or beneficiary of a deed of trust may sustain by reason of the wrongful recording of a release of mortgage or deed of trust.
E. Nothing in this section relieves a person from an obligation to record a full satisfaction or release pursuant to Section 48-7-4 NMSA 1978 or from the imposition of a penalty for failure to record a full satisfaction or release pursuant to Section 48-7-5 NMSA 1978.
F. A title insurer may charge a reasonable fee to the mortgagee for the preparation and recording of the release of mortgage.
History:
Laws 2003, ch. 245, § 1.
ANNOTATIONS
Cross references.
— For forms related to mortgage and release,
see
47-1-44 NMSA 1978.
Effective dates.
— Laws 2003, ch. 245 contained no effective date provision, but, pursuant to N.M. Const., art. IV. § 23, was effective June 20, 2003, 90 days after adjournment of the legislation.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-5 - [Failure to release; penalty; civil liability.]

Any person who shall be guilty of violating the preceding section [48-7-4 NMSA 1978], upon conviction before any justice of the peace [magistrate] or district court having jurisdiction of the same shall be punished by a fine of not less than ten [($10.00)] nor more than twenty-five dollars [($25.00)], and shall be liable in a civil action to the owner of such real estate for all costs of clearing the title to said property including a reasonable attorney's fee.
History:
Laws 1909, ch. 51, § 2; Code 1915, § 4777; C.S. 1929, § 117-121; 1941 Comp., § 63-405; 1953 Comp., § 61-7-5.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law. For justice of the peace construed to refer to magistrate court,
see
35-1-38 NMSA 1978. Pursuant to Laws 1968, ch. 62, § 40, "magistrate" was inserted in brackets throughout this section.
Ejectment denied where parties contemplated new mortgage.
— Ejectment was denied where no consideration had been paid for unrecorded satisfaction of a real estate mortgage, parties having contemplated that a new mortgage was to be given in place of it, though the transaction was never carried out, so that the purported satisfaction of the old mortgage had never become effective.
Davis v. Savage
, 1946-NMSC-011, 50 N.M. 30, 168 P.2d 851.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
55 Am. Jur. 2d Mortgages §§ 436 et seq., 1088 et seq.
Validity and construction of statute allowing penalty and damages against mortgagee refusing to discharge mortgage on real property, 56 A.L.R. 335.
Damages recoverable for real estate mortgagee's refusal to discharge mortgage or give partial release therefrom, 8 A.L.R.4th 853.
59 C.J.S. Mortgages § 474.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-6 - [Release by administrator or executor of deceased mortgagee.]

When the mortgagee of any land or tenements shall die leaving minor heirs, the executors or administrators of such mortgagee shall be and are hereby authorized, on receiving the amount due the estate of such deceased mortgage [mortgagee], to release to the mortgagor the legal title of the said mortgaged premises, and such deed of release shall be valid.
History:
Laws 1884, ch. 29, § 30; C.L. 1884, § 2255; C.L. 1897, § 2092; Code 1915, § 4778; C.S. 1929, § 117-122; 1941 Comp., § 63-406; 1953 Comp., § 61-7-6.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Compiler's notes.
— This section was enacted as part of a law relating to the real estate of decedents, the remaining sections of which were almost entirely superseded by a similar law, former 31-7-9, 31-7-10, 31-7-14 to 31-7-34, 1953 Comp. (now repealed). For present provisions relating to property of decedents,
see
Uniform Probate Code, Chapter 45 NMSA 1978.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
Foreign executor's or administrator's right to discharge mortgage, 10 A.L.R. 283.
33 C.J.S. Executors and Administrators § 181.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-8 - Mortgage escrow funds; limitation; credit against principal.

A. A monthly charge may be held in escrow by a mortgagee for the payment of taxes, insurance premiums and other charges required by the terms of a mortgage subject to the restrictions in Subsection B of this section.
B. Any balance in the escrow fund, exceeding two months' total escrow charges for future taxes, insurance premiums or other required charges, plus the pro rata accrual for such taxes, premiums and other charges, upon the demand of the mortgagor but not more than once each year, shall be credited to the principal amount of the mortgage as provided in Subsection B, or as provided by the contractual agreement, within sixty days of the demand.
C. Failure of a mortgagee to credit upon demand any excess accumulation of escrow funds as provided in Subsection B of this section shall cause [a] penalty at the rate of six percent per year to run on the amount of such excess accumulation of escrow funds which penalty shall be payable to the mortgagor.
History:
1953 Comp., § 61-7-8, enacted by Laws 1971, ch. 175, § 1.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
28 Am. Jur. 2d Escrow § 2; 54A Am. Jur. 2d Mortgages §§ 2, 154, 155, 157.
Acceptance of past-due interest as waiver of clause in mortgage, 97 A.L.R.2d 997.
Rights in funds representing "escrow" payments made by mortgagor in advance to cover taxes or insurance, 50 A.L.R.3d 697.
59 C.J.S. Mortgages §§ 246, 418.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-9 - Mortgages; future advances; lien.

Every mortgage or other instrument securing a loan upon real estate and constituting a lien, or the full equivalent thereof, upon the real estate securing such loan, may secure future advances and the lien of such mortgage shall attach upon its execution and have priority from the time of recording as to all advances, whether obligatory or discretionary, made thereunder until such mortgage is released of record; provided, that the lien of such mortgage shall not exceed at any one time the maximum amount stated in the mortgage.
History:
1953 Comp., § 61-7-9, enacted by Laws 1975, ch. 61, § 1.
ANNOTATIONS
Recording statutes provide notice and indicate limits of financing.
— In lending money secured by property, recording statutes provide for notice to other potential lenders and indicate the upper limits of that financing.
N.M. Bank & Trust Co. v. Lucas Bros.
, 1978-NMSC-062, 92 N.M. 2, 582 P.2d 379.
Certainty of extent to which mortgage encumbers property required.
— Because potential lenders rely upon recorded mortgages to determine whether to make other loans, there must be certainty as to the extent to which a mortgage encumbers property.
N.M. Bank & Trust Co. v. Lucas Bros.
, 1978-NMSC-062, 92 N.M. 2, 582 P.2d 379.
Section does not require that subsequent advances make reference to previous mortgage
with the future advance clause for that clause to operate.
In re Davis
, 44 Bankr. 88 (Bankr. D.N.M. 1984).
Amount secured by mortgage.
— This section should be read to mean that the amount secured by the mortgage shall not exceed the maximum amount stated in the mortgage. Any excess would be unsecured.
Pioneer Sav. & Trust v. Rue
, 1989-NMSC-079, 109 N.M. 228, 784 P.2d 415.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-10 - Mortgages; insurance proceeds.

Where there is a mortgage of a single family residence securing a loan and where there are no federal regulations to the contrary, the mortgagor may require the proceeds of any insurance policy, which are payable by reason of damage to or destruction of the mortgaged property and which would otherwise be payable to the mortgagee, to be held jointly by the mortgagor and the mortgagee in an escrow account and to be applied toward the repair or replacement of the damaged property. Provided that it shall first be reasonably established to the satisfaction of the mortgagee that such repair or replacement will restore the mortgaged property to a value at least equal to the balance remaining on the obligation, at the time the damage or destruction occurred, secured by the mortgage.
History:
1953 Comp., § 61-7-10, enacted by Laws 1975, ch. 184, § 1.
ANNOTATIONS
Am. Jur. 2d, A.L.R. and C.J.S. references. —
54A Am. Jur. 2d Mortgages §§ 65 et seq., 83 et seq.; 55 Am. Jur. 2d Mortgages § 1177.
Right of mortgagee to proceeds of property insurance payable to owner not bound to carry insurance for former's benefit, 9 A.L.R.2d 299.
Fraud, false swearing or other misconduct of insured as affecting right of innocent mortgagee or loss payee to recover on property insurance, 24 A.L.R.3d 435.
Right of mortgagee to notice by insurer of expiration of fire insurance policy, 60 A.L.R.3d 164.
Failure to keep up insurance as justifying foreclosure under acceleration provision in mortgage or deed of trust, 69 A.L.R.3d 774.
Right of mortgagee, who acquires title to mortgaged premises in satisfaction of mortgage, to recover, under fire insurance policy covering him as "mortgagee," for loss or injury to property thereafter damaged or destroyed by fire, 19 A.L.R.4th 778.
59 C.J.S. Mortgages §§ 175 to 177, 203, 210, 240, 368.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-10.1 - Repealed.

History:
Laws 2003, ch. 200, § 1; 2005, ch. 191, § 4; repealed by Laws 2005, ch. 191, § 4.
ANNOTATIONS
Repeals.
— Laws 2005, ch. 191, § 4, repealed 48-7-10.1 NMSA 1978, as enacted by Laws 2003, ch. 200, § 1, relating to available funds required at closings, effective January 1, 2006. For provisions of former section,
see
the 2004 NMSA 1978 on
NMOneSource.com
. For present comparable provisions,
see
58-21-23.1 and 58-21-23.2 NMSA 1978.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-11 to 48-7-14 - Repealed.

ANNOTATIONS
Repeals.
— Laws 1983, ch. 314, § 11, repealed 48-7-11 to 48-7-14 NMSA 1978, relating to due-on-sale clauses, effective April 7, 1983. For present provisions,
see
48-7-15 to 48-7-24 NMSA 1978.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-16 - Definitions.

As used in this act [48-7-15 to 48-7-24 NMSA 1978]:
A. "due-on-sale clause" means a provision in a contract involving a real property loan which authorizes a lender, at its option, to accelerate an indebtedness and declare due and payable sums secured by the lender's security instrument if all or any part of the property, or an interest therein, is sold or transferred or, in the alternative, to demand an increase in the interest rate as a condition of approving an assumption of the loan;
B. "lender" means a person or government agency making a real property loan or any assignee or transferee, in whole or in part, of such a person or agency;
C. "mobile home" means a movable accommodation with not less than four hundred square feet of floor space used or designed for use as living quarters; and
D. "real property loan" means a loan, mortgage, advance or credit sale secured by a lien on real property, the stock allocated to a dwelling unit in a cooperative housing corporation, or a mobile home, whether real or personal property.
History:
Laws 1983, ch. 314, § 2.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-17 - Due-on-sale generally enforceable.

Notwithstanding any provision of the statutory or common laws of this state to the contrary, a lender may enter into or enforce a contract containing a due-on-sale clause with respect to a real property loan, except as provided in Sections 5 and 6 [48-7-19, 48-7-20 NMSA 1978] of this act.
History:
Laws 1983, ch. 314, § 3.
ANNOTATIONS
Not restraint on alienation.
— Due-on-sale clauses in a commercial mortgage are not a restraint on alienation of property.
Brummund v. First Nat'l Bank
, 1983-NMSC-002, 99 N.M. 221, 656 P.2d 884;
Quintana v. First Interstate Bank
, 1987-NMCA-062, 105 N.M. 784, 737 P.2d 896.
Law reviews.
— For annual survey of New Mexico law relating to property, see 12 N.M.L. Rev. 459 (1982).
Am. Jur. 2d, A.L.R. and C.J.S. references. —
Validity, construction, and application of provisions entitling mortgagee to increase interest rate on transfer of mortgaged property, 92 A.L.R.3d 822.
What transfers justify acceleration under "due-on-sale" clause of real estate mortgage, 22 A.L.R.4th 1266.
Validity and enforceability of due-on-sale real-estate mortgage provisions, 61 A.L.R.4th 1070.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-18 - Real property loan contract controls.

Except as otherwise provided in Sections 5 and 6 [48-7-19, 48-7-20 NMSA 1978] of this act, the exercise by the lender of its option pursuant to a due-on-sale clause shall be exclusively governed by the terms of the loan contract, and all rights and remedies of the lender and the borrower shall be fixed and governed by the contract.
History:
Laws 1983, ch. 314, § 4.
ANNOTATIONS
Am. Jur. 2d, A.L.R. and C.J.S. references. —
What transfers justify acceleration under "due-on-sale" clause of real estate mortgage, 22 A.L.R.4th 1266.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-19 - Limitation of enforcement of regulated due-on-sale clauses.

A. In the exercise of its options under a due-on-sale clause, in a real property loan made or assumed between March 15, 1979 and October 15, 1982, a lender shall be prohibited from accelerating the indebtedness and declaring the loan due and payable and shall be limited in increasing the interest rate upon an assumption of the loan upon the transfer of the real property to the existing contract rate of interest plus an increase in the rate of interest not greater than two percentage points and a fee to transfer the real property loan of not greater than one percentage point of the unpaid principal balance of the real property loan at the time of the transfer. On each succeeding assumption of the real property loan on the same property, the lender may increase the contract rate of interest and charge the transfer fee as provided in the previous sentence. There shall be no enforcement of a prepayment penalty in said mortgages.
B. In no case shall the rate of interest charged on an assumption as provided in Subsection A of this section exceed one percent above the most recent federal national mortgage association auction rate of interest at which bids were made, rounded to the nearest one-fourth of one percent. Upon closing, the lender shall disclose in writing to the party assuming the real property loan the most recent federal national mortgage association auction rate of interest referred to in this subsection.
History:
Laws 1983, ch. 314, § 5.
ANNOTATIONS
Prepayment penalty.
— The prohibition on enforcement of a prepayment penalty in Subsection A is sufficiently justified by the significant and legitimate public purpose of promoting the alienability of land to withstand challenge under N.M. Const., Art. II, § 19.
Los Quatros, Inc. v. State Farm Life Ins. Co.
, 1990-NMSC-082, 110 N.M. 750, 800 P.2d 184.
The prohibition on enforcing prepayment bans, found in the last sentence of Subsection A, applies whether or not there has been a sale and whether or not the lender has sought to exercise its options under a due-on-sale clause.
Los Quatros, Inc. v. State Farm Life Ins. Co.
, 1990-NMSC-082, 110 N.M. 750, 800 P.2d 184.
Even if a prohibition on prepayment penalties is governed by the restriction on window-period loans in the Garn - St. Germain Act (12 U.S.C. § 1701 j-3(b)(1)), that act does not prevent a state from enlarging the class of loans subject to the prohibition, so long as they are "real property loans" made or assumed during the window period.
Los Quatros, Inc. v. State Farm Life Ins. Co.
, 1990-NMSC-082, 110 N.M. 750, 800 P.2d 184.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-20 - Limitation of exercise of all due-on-sale [options].

A lender may not exercise its option pursuant to a due-on-sale clause upon:
A. the creation of a lien or other encumbrance subordinate to the lender's security instrument which does not relate to a transfer of rights of occupancy in the property;
B. the creation of a purchase money security interest for household appliances;
C. a transfer by devise, descent or operation of law on the death of a joint tenant or tenant by the entirety;
D. the granting of a leasehold interest of three years or less not containing an option to purchase;
E. a transfer to a relative resulting from the death of a borrower;
F. a transfer where the spouse or children of the borrower become an owner of the property;
G. a transfer resulting from a decree of a dissolution of marriage, legal separation agreement or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property; or
H. a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property.
History:
Laws 1983, ch. 314, § 6.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
What transfers justify acceleration under "due-on-sale" clause of real estate mortgage, 22 A.L.R.4th 1266.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-21 - Security; safeguard.

Any lender who feels the security interest is endangered by the transfer of a real property loan may proceed by foreclosure; provided that the lender shall, as a condition to such foreclosure, prove that the security interest in the property would be substantially impaired.
History:
Laws 1983, ch. 314, § 7.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-22 - Due-on-sale policy on nonregulated contracts.

In the exercise of its option under a due-on-sale clause, a lender is encouraged to permit an assumption of a real property loan at the existing contract rate or at a rate which is at or below the average between the contract and market rates, and nothing in this act [48-7-15 to 48-7-24 NMSA 1978] shall be interpreted to prohibit any such assumption.
History:
Laws 1983, ch. 314, § 8.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-23 - Governmental entity limitation of act.

The provisions of Section 5 [48-7-19 NMSA 1978] of this act shall not apply to the transfer of a real property loan where the funds for the real property loans were provided through the issuance by a governmental entity or instrumentality of bonds the interest on which is exempt from federal income taxation and the transfer fails to conform to state and federal law governing the bonds.
History:
Laws 1983, ch. 314, § 9.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 7 - Mortgages › Section 48-7-24 - Attorney fees.

Attorney's fees shall be awarded to the prevailing party in any action brought under this act [48-7-15 to 48-7-24 NMSA 1978].
History:
Laws 1983, ch. 314, § 10.
ANNOTATIONS
Where attorney fees not authorized.
— Where plaintiff brought a claim against defendant bank for failure to record the satisfaction of a mortgage pursuant to 48-7-4 NMSA 1978, it was error for the district court to award attorney fees pursuant to 48-7-24 NMSA 1978, because this section only authorizes attorney fees for actions brought under 48-7-15 through 48-7-24 NMSA 1978, and there was no theory presented at trial that 48-7-15 through 48-7-24 NMSA 1978 were violated.
Dollens v. Wells Fargo Bank
, 2015-NMCA-096.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 8 - Hospital Liens › Section 48-8-2 - Filing and notice of hospital liens.

No hospital lien is effective upon damages recovered for personal injuries unless:
A. a written notice is filed in the office of the county clerk of the county in which the hospital asserting the lien is located containing the following information:
(1) an itemized statement of all claims certified as correct by an agent of such hospital;
(2) the date of the accident;
(3) the name and location of the hospital; and
(4) the name of the person, firm or corporation alleged to be liable to the injured party for the injuries received; and
B. the hospital sends by certified mail with return receipt requested, prior to the payment of any money to the injured person or his attorneys or legal representative as compensation for the patient's injuries, a copy of the written notice, together with a statement of the date of filing, to the person, firm or corporation alleged to be liable to the injured party for the injuries sustained. The person, firm or corporation alleged to be liable to the injured person shall, upon request of the hospital, disclose the name of the insurance carrier that has insured the person, firm or corporation against liability; and
C. the hospital mails a copy of the written notice by certified mail with return receipt requested to the home office of any insurance carrier that has insured the person, firm or corporation against liability, if the name and address is known.
History:
1953 Comp., § 61-9-2, enacted by Laws 1961, ch. 227, § 2.
ANNOTATIONS
Substantial compliance sufficient for notice.
— Substantial rather than strict compliance with the statutory notice provision satisfies the legislative intent.
Sw. Cmty. Health Servs. v. Safeco Ins. Co.
, 1989-NMSC-042, 108 N.M. 570, 775 P.2d 1287.
Notice held sufficient.
— Hospital substantially complied with the statutory notice provision, where notice was mailed to the insurer's home office in Albuquerque rather than Seattle, after the insurer's agent assured the hospital that the Albuquerque office was sufficient for serving notice upon the insurer.
Sw. Cmty. Health Servs. v. Safeco Ins. Co.
, 1989-NMSC-042, 108 N.M. 570, 775 P.2d 1287.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
41 C.J.S. Hospitals § 15.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 8 - Hospital Liens › Section 48-8-4 - County clerk to maintain hospital lien records.

Every county clerk shall maintain a proper index of all hospital liens under the name of the injured person.
History:
1953 Comp., § 61-9-4, enacted by Laws 1961, ch. 227, § 4; 1995, ch. 78, § 1.
ANNOTATIONS
Cross references.
— For lien filing fees,
see
48-8-6 NMSA 1978.
For county clerk,
see
Chapter 4, Article 40 NMSA 1978.
The 1995 amendment,
effective June 16, 1995, substituted "records" for "book" in the section heading; deleted the former last two sentences, relating to the information entered into the lien book, and rewrote the remaining language.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 8 - Hospital Liens › Section 48-8-5 - Release of lien.

The hospital shall, upon receipt of payment of the lien or the part recoverable under the lien, execute and file, at the expense of the hospital, a release of lien.
History:
1953 Comp., § 61-9-5, enacted by Laws 1961, ch. 227, § 5.
ANNOTATIONS
Am. Jur. 2d, A.L.R. and C.J.S. references. —
41 C.J.S. Hospitals § 15.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 8 - Hospital Liens › Section 48-8-6 - Repealed.

ANNOTATIONS
Repeals.
— Laws 1995, ch. 78, § 2 repealed 48-8-6 NMSA 1978, as enacted by Laws 1961, ch. 227 § 6, relating to entering and filing a hospital lien, effective June 16, 1995. For provisions of former section,
see
the 1994 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 8 - Hospital Liens › Section 48-8-7 - [Hospital's interest in settlement restricted to lien rights.]

Nothing in this act [48-8-1 to 48-8-7 NMSA 1978] shall be construed to permit any hospital to be a party to or to have any interest in the amount or manner of any settlement of any claim on which a lien has been filed other than the lien rights as provided in this act.
History:
1953 Comp., § 61-9-7, enacted by Laws 1961, ch. 227, § 7.
ANNOTATIONS
Am. Jur. 2d, A.L.R. and C.J.S. references. —
41 C.J.S. Hospitals § 15.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 9 - Oil and Gas Products Lien Act › Section 48-9-1 - Short title.

Sections 48-9-1 through 48-9-8 NMSA 1978 may be cited as the "Oil and Gas Products Lien Act."
History:
1953 Comp., § 61-10-1, enacted by Laws 1973, ch. 100, § 1.
ANNOTATIONS
Cross references.
— For liens on wells and pipelines,
see
70-4-1 NMSA 1978 et seq.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
38 Am. Jur. 2d Gas and Oil §§ 135 to 140.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 9 - Oil and Gas Products Lien Act › Section 48-9-2 - Definitions.

As used in the Oil and Gas Products Lien Act:
A. "commission" means the oil and gas accounting commission [oil and gas accounting division of the taxation and revenue department];
B. "product" or "products" means severed oil, natural gas, liquid hydrocarbons, individually or in any combination thereof;
C. "severed" means the taking, extraction or production from the soil of any product in any manner;
D. "production unit" means a unit of property designated by the commission from which products of common ownership are severed;
E. "person" means any individual, executor, administrator, estate, agent, trust, trustee, institution, receiver, business trust, firm, corporation, partnership, cooperative, joint venture, governmental entity or agency, association or any other group or combination acting as a unit;
F. "interest owner" means a person owning an entire or fractional interest of any kind or nature in the products at the time they are severed from a production unit, or a person who has a right, either express or implied, to receive a monetary payment determined by the value of the products;
G. "operator" means any person engaged in the severance of products from a production unit for himself, for himself and other persons or for other persons;
H. "first purchaser" means the first person who takes, receives or purchases products from an interest owner at or after the time the products are severed from a production unit; and
I. "purchaser" means a person who takes, receives or purchases products from a first purchaser or another person other than an interest owner.
History:
1953 Comp., § 61-10-2, enacted by Laws 1973, ch. 100, § 2.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Laws 1977, ch. 249, §§ 5, 12, abolished the oil and gas accounting commission and transferred employees, appropriations, property, equipment, supplies, money and contracts to the oil and gas accounting division of the taxation and revenue department.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 9 - Oil and Gas Products Lien Act › Section 48-9-3 - Security interest; lien; payment.

A. To secure payment from the first purchaser of the purchase price of the product, state royalty and all taxes which are required to be or are withheld and paid or to be paid by the first purchaser, an interest owner, subject to Section 48-9-5 NMSA 1978, shall have a continuing purchase money security interest in and a lien upon his interest in or share of the unpaid for product severed from a production unit in which he owns an interest or the proceeds of product if such unpaid for product has been sold by the first purchaser, until the purchase price, state royalty and taxes have been paid to the person entitled to receive payment therefor.
B. In the event of a bona fide dispute as to the amount due the interest owner, the purchase money security interest and the lien herein provided shall not accrue if the first purchaser tenders to the interest owner the amount which the first purchaser in good faith believes to be due and payable.
C. Any purchaser who pays the purchase price for products to the person from whom the products are acquired or to a person who is authorized to receive payment for an interest owner shall be deemed a buyer in ordinary course of business, as defined in Section 55-1-201(9) NMSA 1978, and take the products free of the purchase money security interest and lien of the interest owner, and the purchaser who makes such payment and all of his property shall be free from and not subject to the claims or purchase money security interest and lien of an interest owner.
History:
1953 Comp., § 61-10-3, enacted by Laws 1973, ch. 100, § 3.
ANNOTATIONS
Am. Jur. 2d, A.L.R. and C.J.S. references. —
Assertion of statutory mechanic's or materialman's lien against oil and gas produced or against proceeds attributable to oil and gas sold, 59 A.L.R.3d 278.
58 C.J.S. Mines and Mining § 220.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 9 - Oil and Gas Products Lien Act › Section 48-9-4 - Validity of security interest and lien; possession.

The validity of the purchase money security interest and lien granted to an interest owner under the provisions of the Oil and Gas Products Lien Act shall not be dependent upon possession of the product by an interest owner or operator and no such purchase money security interest or lien shall become or be deemed to be void or expired by reason of a change or transfer of the actual or constructive possession or title of the product from the interest owner or an operator to an operator or purchaser.
History:
1953 Comp., § 61-10-4, enacted by Laws 1973, ch. 100, § 4.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 9 - Oil and Gas Products Lien Act › Section 48-9-6 - Effect of act and filing; title; purchaser's rights; collateral security.

A. Neither the provisions of the Oil and Gas Products Lien Act nor the filing of any instrument permitted under that act shall affect the time at which legal title to the products from a production unit may pass from an interest owner or operator to a purchaser by agreement or operation of law subject to the purchase money security interest and lien granted under the provisions of that act, the ownership of the products before severed from a production unit as reflected by the records affecting real property or the right of a purchaser to take or receive products from a production unit under the terms of a division order or similar agreement for the sale and purchase of products and a purchaser shall be free to transport products out of the state notwithstanding the provisions of the Oil and Gas Products Lien Act.
B. No person entitled to a purchase money security interest and lien under the provisions of the Oil and Gas Products Lien Act shall be deemed to have waived or relinquished such purchase money security interest and lien by taking or receiving collateral security for payment of the purchase price for or taxes measured by the value of the product unless he expressly agrees thereto in writing.
History:
1953 Comp., § 61-10-6, enacted by Laws 1973, ch. 100, § 6.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 9 - Oil and Gas Products Lien Act › Section 48-9-8 - Priority; assignment; representation.

A. Liens or claims for taxes measured by the value of product and royalty payments due the state, whether under the Oil and Gas Products Lien Act or other acts, shall have a first, superior and paramount priority. The purchase money security interest and lien provided by the Oil and Gas Products Lien Act shall then and thereafter be preferred to and have priority over any other lien, mortgage, security interest or other encumberance [encumbrance] which may attach to or be asserted against the unpaid for products severed from a production unit or the proceeds of product if such product has been sold by the first purchaser, except liens under the Oil and Gas Lien Act [70-4-1 to 70-4-15 NMSA 1978] and perfected liens of common carriers provided by Sections 48-3-8, 65-2-51 [repealed] and 63-3-12 NMSA 1978 or under published tariff schedules.
B. The purchase money security interest and lien granted to an interest owner under the provisions of the Oil and Gas Products Lien Act may be assigned, in whole or in part; provided, however, that the rights of any assignee shall be the same as those of the assignor; and, provided further, however, that any deed of trust, mortgage or security agreement executed by an interest owner in favor of another and covering products severed or to be severed from a production unit shall also be deemed an assignment of the interest owner's rights under this act.
C. Any first purchaser who takes, receives or purchases products severed or to be severed from a production unit shall be deemed to make a continuing representation that he will not take, receive or purchase products while insolvent.
History:
1953 Comp., § 61-10-8, enacted by Laws 1973, ch. 100, § 8.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law.
Laws 1981, ch. 358, § 49, repealed 65-2-51 NMSA 1978, effective April 10, 1981.
Am. Jur. 2d, A.L.R. and C.J.S. references. —
38 Am. Jur. 2d Gas and Oil § 140.
2023 New Mexico Statutes › Chapter 48 - Liens and Mortgages › Article 10 - Deeds of Trust › Section 48-10-1 - Short title.

Sections 1 through 21 [48-10-1 to 48-10-21 NMSA 1978] of this act may be cited as the "Deed of Trust Act".
History:
Laws 1987, ch. 61, § 1.