Deeds of trust may be executed as security for the performance of a contract. The laws of New Mexico which refer to mortgages as security instruments are deemed to also include deeds of trust unless the context otherwise requires. The lien theory of mortgages in New Mexico shall continue to apply to deeds of trust executed as provided in the Deed of Trust Act.
History: Laws 1987, ch. 61, ยง 8.
Structure New Mexico Statutes
Chapter 48 - Liens and Mortgages
Section 48-10-1 - Short title.
Section 48-10-3 - Definitions.
Section 48-10-6 - Trustee of deed of trust; qualification.
Section 48-10-7 - Appointment of successor trustee by beneficiary.
Section 48-10-8 - Deed of trust as security.
Section 48-10-9 - Grants in trust of real estate; uses.
Section 48-10-10 - Sale of trust real estate; power of trustee; foreclosure of deed of trust.
Section 48-10-11 - Notice of trustee's sale.
Section 48-10-12 - Request for copies of notice of sale; mailing by trustee or beneficiary.
Section 48-10-13 - Sale by public auction; postponement of sale.
Section 48-10-14 - Payment of bid; trustee's deed.
Section 48-10-15 - Disposition of proceeds of sale.
Section 48-10-16 - Redemption.
Section 48-10-18 - Method of indexing.
Section 48-10-19 - Limitation on action or sale of trust real estate.
Section 48-10-20 - Notice from instruments recorded; assignment of a beneficial interest.