It shall be unnecessary to recite in any deed of trust given by way of mortgage that in the case of the resignation, refusal, failure or inability of the trustee named therein at any time to act, the then acting sheriff of the county in which said real estate is situate shall be successor trustee with like powers to those of the named trustee; but the same shall be implied in any such deed of trust unless a contrary intention appears therefrom.
§ 47-1-42 NMSA 1978
[Sheriff designated as successor trustee.]
1941 Comp., § 75-140, enacted by Laws 1947, ch. 203, § 15; 1953 Comp., § 70-1-40.
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.