New Mexico § 48-7-20 Limitation of exercise of all due-on-sale [options]

New Mexico Statutes

§ 48-7-20 — Limitation of exercise of all due-on-sale [options]

New Mexico § 48-7-20

Ch. 48Liens and Mortgages

Art. 7Mortgages

This text of New Mexico § 48-7-20 (Limitation of exercise of all due-on-sale [options]) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 48-7-20 (2026).

Text

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 fro

Free access — add to your briefcase to read the full text and ask questions with AI

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.