At the time of the first conveyance of each unit, every blanket encumbrance affecting the unit shall be paid and satisfied of record, or the unit being conveyed shall be released therefrom by partial release duly recorded.
§ 47-7-15 NMSA 1978
Blanket encumbrances affecting a unit at time of first conveyance
Known as the Building Unit Ownership Act
The act spans §§ 47–47 (29 sections).
1953 Comp., § 70-4-14, enacted by Laws 1963, ch. 221, § 14; 1975, ch. 318, § 15.
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.