New Mexico Statutes
§ 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.
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New Mexico § 48-7-22 (Due-on-sale policy on nonregulated contracts) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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Repealed§ 48-1-5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
Redemption