That the possibility or right of reversion for breach or violation of condition or conditions subsequent contained in any deed or other instrument conveying real estate in the state of New Mexico, is hereby made assignable, and the grantor in any such instrument heretofore or hereafter made affecting real estate in the state of New Mexico, is given the right to assign and transfer such future contigent [contingent] right of reentry, forfeiture and reversion for violation or breach of such condition or conditions subsequent.

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Terms Used In New Mexico Statutes 47-1-23

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Grantor: The person who establishes a trust and places property into it.