New Mexico § 56-15-11 Effect of enforcement

New Mexico Statutes

§ 56-15-11 — Effect of enforcement

New Mexico § 56-15-11

Ch. 56Commercial Instruments and Transactions

Art. 15Uniform Assignment of Rents

This text of New Mexico § 56-15-11 (Effect of enforcement) 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. § 56-15-11 (2026).

Text

The enforcement of an assignment of rents by one or more of the methods identified in Sections 7, 8 and 9 [56-15-7, 56-15-8 and 56-15-9 NMSA 1978] of the Uniform Assignment of Rents Act, the application of proceeds by the assignee pursuant to Section 12 [56-15-12 NMSA 1978] of that act after enforcement, the payment of expenses pursuant to Section 13 [56-15-13 NMSA 1978] of that act or an action pursuant to Subsection D of Section 14 [56-15-14 NMSA 1978] of that act does not: A. make the assignee a mortgagee in possession of the real property; B. make the assignee an agent of the assignor; C. constitute an election of remedies that precludes a later action to enforce the secured obligation; D. make the secured obligation unenforceable; or E. limit any right available to the assignee with r

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

The enforcement of an assignment of rents by one or more of the methods identified in Sections 7, 8 and 9 [56-15-7, 56-15-8 and 56-15-9 NMSA 1978] of the Uniform Assignment of Rents Act, the application of proceeds by the assignee pursuant to Section 12 [56-15-12 NMSA 1978] of that act after enforcement, the payment of expenses pursuant to Section 13 [56-15-13 NMSA 1978] of that act or an action pursuant to Subsection D of Section 14 [56-15-14 NMSA 1978] of that act does not: A. make the assignee a mortgagee in possession of the real property; B. make the assignee an agent of the assignor; C. constitute an election of remedies that precludes a later action to enforce the secured obligation; D. make the secured obligation unenforceable; or E. limit any right available to the assignee with respect to the secured obligation.