A. Section 45-2-912 N.M. Stat. Ann. does not apply to a possibility of reverter, right of entry or executory interest that is held by a charity, a government or governmental agency or subdivision excluded from the provisions of Section 45-2-901 N.M. Stat. Ann. by Subsection E of Section 45-2-904 N.M. Stat. Ann..

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Terms Used In New Mexico Statutes 45-2-913

  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC

B. Sections 45-2-909 and 45-2-910 N.M. Stat. Ann. do not apply to an option, a preemptive right in the nature of a right of first refusal or a lease that relates solely to an interest in oil, gas or other minerals.

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