An option in gross with respect to an interest in real property or a preemptive right in the nature of a right of first refusal in gross with respect to an interest in real property becomes invalid if it is not actually exercised within thirty years after its creation.
§ 45-2-909 NMSA 1978
Interest in real property
Known as the Uniform Disclaimer of Property Interests Act
The act spans §§ 45-2-1001 to 45-2-914 (118 sections).
1978 Comp., § 45-2-909, enacted by Laws 2011, ch. 124, § 36.
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.