New Mexico Statutes
§ 42-10-9 — Homestead exemption
A. A person shall have a homestead exemption in a domicile or land owned by the person that is the primary residence of the person. Such homestead is exempt from attachment, execution or foreclosure by a judgment creditor and from any proceeding of receivers or trustees in insolvency or bankruptcy proceedings and from executors or administrators in probate. B. The amount of the homestead exemption is:
(1)one hundred fifty thousand dollars ($150,000); or (2) three hundred thousand dollars ($300,000) if the spouse of the person claiming the exemption died within two years prior to the date of claiming the homestead exemption and if the deceased spouse would have been able to claim the homestead exemption had the deceased spouse survived until the date of claiming the homestead exemption. C.
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Legislative History
1953 Comp., § 24-6-1, enacted by Laws 1971, ch. 215, § 6; 1973, ch. 277, § 1;
Nearby Sections
15
§ 42-1-40
Recompiled§ 42-10-1
Exemptions§ 42-10-10
Exemption in lieu of homestead§ 42-10-11
When homestead exemption does not apply§ 42-10-12
Repealed§ 42-10-13
Claim of exemption or priority§ 42-10-14
Cost-of-living adjustments§ 42-10-2
Repealed§ 42-10-4
Benevolent associations; benefits§ 42-10-5
[Life insurance proceeds.]§ 42-10-7
Taxes excepted§ 42-10-8
Repealed§ 42-10-9
Homestead exemption