A lease of real property to commence at a time certain or upon the occurrence or nonoccurrence of a future event becomes invalid if its term does not actually commence in possession within thirty years after its execution.
History: 1978 Comp., § 45-2-910, enacted by Laws 2011, ch. 124, § 37.
Effective dates. — Laws 2011, ch. 124, § 104 made Laws 2011, ch. 124, § 37 effective January 1, 2012.
Structure New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 2 - Intestate Succession and Wills
Subpart 3 - Time Limits On Options In GrossAnd Certain Other Interests In Real Property
Section 45-2-908 - Definitions.
Section 45-2-909 - Interest in real property.
Section 45-2-910 - Lease to commence in the future.
Section 45-2-911 - Nonvested easement.
Section 45-2-912 - Possibility of reverter, right of entry, executory interest.