No lien provided for in Sections 48-2-1 through 48-2-17 N.M. Stat. Ann. remains valid for a longer period than two years after the claim of lien has been filed unless proceedings have been commenced in a court of competent jurisdiction or in binding arbitration within that time to enforce the lien. A contingent payment clause in a contract shall not be construed as a waiver of the right to file and enforce a mechanic’s or materialman’s lien pursuant to Sections 48-2-1 through 48-2-17 N.M. Stat. Ann..

contract signature

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Terms Used In New Mexico Statutes 48-2-10

  • Contract: A legal written agreement that becomes binding when signed.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lien: A claim against real or personal property in satisfaction of a debt.
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