Purchase money mortgages or deeds of trust on real property referred to in Subsection A of Section 132 [ 59A-8-15 NMSA 1978] of this article shall be valued in an amount not exceeding acquisition cost of the real property covered thereby or ninety percent of the fair value of the real property, whichever is less.
§ 59A-8-16 NMSA 1978
Valuation of purchase money mortgages
Laws 1984, ch. 127, § 133.
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.