Chapter 56 — Chapter 56
209 sections in this chapter.
NMSA 1978, § 56-15-19 Application to existing relationships
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A. Except as otherwise provided in this section, the Uniform Assignment of Rents Act governs the enforcement of an assignment of rents and the perfection and priority of a security interest in rents, even if the document creating the assignment was signed and delivered before the…
NMSA 1978, § 56-15-2 Definitions
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As used in the Uniform Assignment of Rents Act: A. "assignee" means a person entitled to enforce an assignment of rents; B. "assignment of rents" means a transfer of an interest in rents in connection with an obligation secured by real property located in New Mexico and from whic…
NMSA 1978, § 56-15-3 Manner of giving notification
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A. Except as otherwise provided in Subsections C and D of this section, a person gives a notification or a copy of a notification pursuant to the Uniform Assignment of Rents Act: (1) by depositing it with the United States postal service or with a commercially reasonable delivery…
NMSA 1978, § 56-15-4 Security instrument creates assignment of rents;
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assignment of rents creates security interest. A. An enforceable security instrument creates an assignment of rents arising from the real property described in the security instrument, unless the security instrument provides otherwise. B. An assignment of rents creates a presentl…
NMSA 1978, § 56-15-5 Recordation; perfection of security interest in rents;
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priority of conflicting interests in rents. A. A document creating an assignment of rents may be submitted for recording in the office of the county clerk in the same manner as any other document evidencing a conveyance of an interest in real property. B. Upon recording, the secu…
NMSA 1978, § 56-15-6 Enforcement of security interest in rents
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A. An assignee may enforce an assignment of rents using one or more of the methods specified 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 or any other method sufficient to enforce the assignment pursuant to any law of New …
NMSA 1978, § 56-15-7 Enforcement by appointment of receiver
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A. An assignee is entitled to the appointment of a receiver for the real property subject to the assignment of rents if: (1) the assignor is in default and: (a) the assignor has agreed in a signed document to the appointment of a receiver in the event of the assignor's default; (…
NMSA 1978, § 56-15-8 Enforcement by notification to assignor
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A. Upon the assignor's default, or as otherwise agreed by the assignor, the assignee may give the assignor a notification demanding that the assignor pay over the proceeds of any rents that the assignee is entitled to collect pursuant to Section 6 [56- 15-6 NMSA 1978] of the Unif…
NMSA 1978, § 56-15-9 Enforcement by notification to tenant
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A. Upon the assignor's default, or as otherwise agreed by the assignor, the assignee may give to a tenant of the real property a notification demanding that the tenant pay to the assignee all unpaid accrued rents and all unaccrued rents as they accrue. The assignee shall give a c…