2021 New Mexico Statutes
Article 5 - Sales Under Execution and Foreclosure
Section 39-5-23 - Duty to record redemption.

A. In all cases of redemption of lands from sale pursuant to the provisions of Sections 39-5-17 through 39-5-23 NMSA 1978:
(1) if the redemption is by payment to the purchaser, it is the duty of the purchaser within forty-five days of receiving payment to create an acknowledged instrument in writing evidencing the redemption; or
(2) if the redemption is by making deposit in the office of the clerk of the district court upon approval of the redemption by the district judge, it is the duty of the clerk of the court to create under the seal of the court an instrument evidencing the redemption.
B. It is the duty of the party redeeming to record the instrument evidencing the redemption in the office of the county clerk in the same manner as other instruments of writing affecting title to real estate.
History: Laws 1931, ch. 149, § 6; 1941 Comp., § 21-223; 1953 Comp., § 24-2-23; 2013, ch. 214, § 12.
The 2013 amendment, effective June 14, 2013, provided for the preparation and filing instruments of redemption; added the title; in Subsection A, in the introductory sentence, after "lands from sale", deleted "under the terms and" and added "pursuant to", after "provisions of" deleted "Section 39-5-17", and language that required the preparation and filing of instruments of redemption and payment of a filing fee, and added "Sections 39-5-17 through 39-5-23 NMSA 1978"; added Paragraphs (1) and (2) of Subsection A; and added Subsection B.
Payment cannot be conditioned. — This section does not indicate that a debtor or its financier can condition the payment to the purchaser required by 39-5-18 A(1) NMSA 1978 upon this section's previous or contemporaneous satisfaction. Brown v. Trujillo, 2004-NMCA-040, 135 N.M. 365, 88 P.3d 881, cert. denied, 2004-NMCERT-004, 135 N.M. 562, 91 P.3d 603.
By conditionally tendering money to purchaser and then filing petition without cash deposit with the trial court, debtor did not substantially comply with either procedure the legislature has created. Brown v. Trujillo, 2004-NMCA-040, 135 N.M. 365, 88 P.3d 881, cert. denied, 2004-NMCERT-004, 135 N.M. 562, 91 P.3d 603.
Applicability to extrajudicial redemption procedure. — The requirement of this section for recordation of redemption applies to extra-judicial redemption procedure authorized under 39-5-18 NMSA 1978. W. Bank v. Malooly, 1995-NMCA-044, 119 N.M. 743, 895 P.2d 265.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 59 C.J.S. Mortgages § 852.

Structure 2021 New Mexico Statutes