New Mexico Statutes
§ 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.
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New Mexico § 48-7-9 (Mortgages; future advances; lien) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1953 Comp., § 61-7-9, enacted by Laws 1975, ch. 61, § 1.
Nearby Sections
15
§ 48-1-1
Federal lien; place of filing§ 48-1-3
Duties of filing officer§ 48-1-4
Repealed§ 48-1-5
Uniformity of interpretation§ 48-1-6
Short title§ 48-10-1
Short title§ 48-10-11
Notice of trustee's sale§ 48-10-14
Payment of bid; trustee's deed§ 48-10-15
Disposition of proceeds of sale§ 48-10-16
Redemption