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.
History: 1953 Comp., § 70-4-14, enacted by Laws 1963, ch. 221, § 14; 1975, ch. 318, § 15.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments § 46.
31 C.J.S. Estates § 153 et seq.
Structure New Mexico Statutes
Article 7 - Building Unit Ownership
Section 47-7-3 - Application of act.
Section 47-7-4 - Status of the units.
Section 47-7-5 - Ownership of units.
Section 47-7-6 - Common areas and facilities.
Section 47-7-7 - Compliance with covenants; bylaws; administrative provisions.
Section 47-7-8 - Certain work prohibited.
Section 47-7-9 - Liens against units; removal from lien; effect of part payment.
Section 47-7-10 - Common profits and expenses.
Section 47-7-11 - Contents of declaration.
Section 47-7-12 - Declaration; apportionment of interest.
Section 47-7-13 - Contents of deeds of units.
Section 47-7-14 - Copy of the floor plans to be filed.
Section 47-7-15 - Blanket encumbrances affecting a unit at time of first conveyance.
Section 47-7-17 - Removal from provisions of the Building Unit Ownership Act.
Section 47-7-18 - Removal no bar to subsequent resubmission.
Section 47-7-20 - Contents of bylaws.
Section 47-7-21 - Books of receipts and expenditures; availability for examination.
Section 47-7-22 - Waiver of use of common areas and facilities; abandonment of unit.
Section 47-7-24 - Priority of lien.
Section 47-7-25 - Joint and several liability of grantor and grantee for unpaid common expenses.
Section 47-7-25.1 - Merger or consolidation of condominiums.