Chapter 48 — Chapter 48

History: Laws 1987, ch. 61, § 2; 1993, ch. 145, § 1; repealed by Laws 2006, ch. 32, § 8.

beneficial interest. Except as otherwise provided in this section, a deed of trust, notice of resignation of trustee, assignment of a beneficial interest in a deed of trust, notice of sale, cancellation of notice of sale, trustee's deed, release of deed of trust and any instrumen…

The Deed of Trust Act shall be liberally construed to carry out its purpose. History: Laws 1987, ch. 61, § 21.

As used in the Deed of Trust Act, unless the context otherwise requires: A. "beneficiary" means the person named or otherwise designated in a deed of trust as the person for whose benefit a deed of trust is given or the person's successor in interest; B. "contract" means an agree…

History: Laws 1987, ch. 61, § 4; 1993, ch. 145, § 3; repealed by Laws 2006, ch. 32, § 8.

beneficiary and trustee. A. In deeds of trust the legal description of trust real estate shall be given by one of the following methods: (1) by the use of lot, block, tract or parcel as provided in a recorded subdivision plat; (2) by the use of a metes and bounds or course and di…

A. Except as provided in Subsection B of this section, the trustee of a deed of trust shall be: (1) an organization doing business under the laws of New Mexico as a bank, trust company, savings and loan association, escrow company or title insurance company including an agent or …

A. If a person appointed as trustee fails to qualify, is unwilling, unqualified or unable to serve or resigns as trustee, the beneficiary may appoint a successor trustee and the appointment shall constitute a substitution of trustee. B. The beneficiary may remove a trustee at any…

Deeds of trust may be executed as security for the performance of a contract. The laws of New Mexico which refer to mortgages as security instruments are deemed to also include deeds of trust unless the context otherwise requires. The lien theory of mortgages in New Mexico shall …

Grants or mortgages of trust real estate may be made to secure the performance of a contract of the trustor or any other person. Unless otherwise specifically provided in the deed of trust or otherwise specifically agreed in writing by the trustor and the beneficiary at the time …

This act [48-11-1 to 48-11-9 NMSA 1978] may be cited as the "Self-Service Storage Lien Act". History: Laws 1987, ch. 314, § 1.

As used in the Self-Service Storage Lien Act: A. "default" means the failure to perform in a timely manner any obligation or duty set forth in the Self-Service Storage Lien Act or in the rental agreement; B. "electronic mail" means the transmission of information or a communicati…

The rental agreement shall contain a notice stating that all articles stored under the terms of that agreement will be sold or otherwise disposed of under the terms and conditions of the Self-Service Storage Lien Act if the tenant is in default. The agreement shall contain a disc…

A self-service storage facility is not a warehouse as that term is used in Sections 55- 7-209 and 55-7-210 NMSA 1978; nor shall a self-service storage facility be used for residential purposes. History: Laws 1987, ch. 314, § 4.

When an owner has a lien, it is on all personal property located at the self-service storage facility for rent, labor or other charges in relation to the personal property and for expenses necessary for its preservation or expenses reasonably incurred in its sale or other disposi…

Any person who has a perfected security interest under Chapter 55, Article 9 NMSA 1978 may claim any personal property subject to the security interest and subject to a lien arising under the Self-Service Storage Lien Act by paying the total amount due for the storage of the prop…

A. An owner's lien, as provided under the Self-Service Storage Lien Act, for a claim that has become due may be satisfied as follows: (1) after the occupant has been in default continuously for a period of five days, the owner may deny the occupant access to the occupant's space …

Each owner shall post in a prominent place in his office at all times a notice which reads as follows: "All articles stored under a rental agreement, which have incurred unpaid charges for thirty days, will be sold or otherwise disposed of to pay charges at the end of ninety days…

Any person who willfully fails to disclose any lienholder as required by the disclosure provision of the rental agreement defined in Section 3 [48-11-3 NMSA 1978] of the Self- Service Storage Lien Act is guilty of a petty misdemeanor. History: Laws 1987, ch. 314, § 9.

This act [48-12-1 to 48-12-7 NMSA 1978] may be cited as the "Commercial Real Estate Broker Lien Act". History: Laws 2014, ch. 38, § 1.

As used in the Commercial Real Estate Broker Lien Act: A. "broker" means a person licensed as a qualifying broker under the provisions of Chapter 61, Article 29 NMSA 1978; and B. "commercial real estate" means any real estate other than: (1) real estate on which no buildings or s…

A broker shall have a lien upon commercial real estate or any interest in commercial real estate in the amount that the broker is due for licensed services connected with the leasing of the commercial real estate, if the broker: A. is entitled to a stated fee or commission provid…

contents; mailing. A. A broker shall record a notice of lien within ninety days following the date on which payment is due as set forth in a written instrument as required by Section 3 [48- 12-3 NMSA 1978] of the Commercial Real Estate Broker Lien Act. If compensation is to be pa…

A. A broker claiming a lien under the Commercial Real Estate Broker Lien Act shall, within two years after recording the notice of lien, bring suit to enforce the lien in the district court in the county where the commercial real estate is located. Failure to commence proceedings…

A. The owner of any commercial real estate upon which a lien has been filed pursuant to the Commercial Real Estate Broker Lien Act may petition the district court for the county in which the commercial real estate is located for an order canceling the lien. B. Upon the filing of …

The cost of proceedings, including trial and appellate court proceedings, brought pursuant to the Commercial Real Estate Broker Lien Act, including reasonable attorney fees, expenses of litigation and prejudgment interest, shall be awarded to the prevailing party or parties. When…