New Mexico Statutes 48-7-17. Due-on-sale generally enforceable
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Notwithstanding any provision of the statutory or common laws of this state to the contrary, a lender may enter into or enforce a contract containing a due-on-sale clause with respect to a real property loan, except as provided in Sections 5 and 6 [48-7-19, 48-7-20 N.M. Stat. Ann.] of this act.
Terms Used In New Mexico Statutes 48-7-17
- Contract: A legal written agreement that becomes binding when signed.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.