Upon the acceptance or purchase of the tract or parcel of land as provided in Sections 4-55A-23 and 4-55A-24 NMSA 1978, title to the tract or parcel of land, subject to the right of redemption provided by Subsection A of Section 4-55A-26 NMSA 1978, vests in the trustee of the fund from which the assignable certificates or bonds are payable.
§ 4-55A-25 NMSA 1978
Improvement district; title subject to redemption vests in trustee
Known as the County Improvement District Act
The act spans §§ 4–4 (45 sections).
Laws 1980, ch. 91, § 25; 1991, ch. 199, § 47.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.