New Mexico Statutes
§ 48-7-22 — Due-on-sale policy on nonregulated contracts
New Mexico § 48-7-22
This text of New Mexico § 48-7-22 (Due-on-sale policy on nonregulated contracts) 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. § 48-7-22 (2026).
Text
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.
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Legislative History
Laws 1983, ch. 314, § 8.
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Repealed§ 48-1-5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
RedemptionCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 48-7-22, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/48/48-7-22.