The provisions of Section 5 [48-7-19 NMSA 1978] of this act shall not apply to the transfer of a real property loan where the funds for the real property loans were provided through the issuance by a governmental entity or instrumentality of bonds the interest on which is exempt from federal income taxation and the transfer fails to conform to state and federal law governing the bonds.
History: Laws 1983, ch. 314, ยง 9.
Structure New Mexico Statutes
Chapter 48 - Liens and Mortgages
Section 48-7-1 - Right of possession.
Section 48-7-4 - Release on record upon satisfaction of mortgage.
Section 48-7-4.1 - Alternative form of release of mortgage; filing by title insurer.
Section 48-7-5 - [Failure to release; penalty; civil liability.]
Section 48-7-6 - [Release by administrator or executor of deceased mortgagee.]
Section 48-7-7 - Sale of real property under power of sale; allowed if trustor agrees.
Section 48-7-8 - Mortgage escrow funds; limitation; credit against principal.
Section 48-7-9 - Mortgages; future advances; lien.
Section 48-7-10 - Mortgages; insurance proceeds.
Section 48-7-11 to 48-7-14 - Repealed.
Section 48-7-15 - Purpose [of "due-on-sale" law].
Section 48-7-16 - Definitions.
Section 48-7-17 - Due-on-sale generally enforceable.
Section 48-7-18 - Real property loan contract controls.
Section 48-7-19 - Limitation of enforcement of regulated due-on-sale clauses.
Section 48-7-20 - Limitation of exercise of all due-on-sale [options].
Section 48-7-21 - Security; safeguard.
Section 48-7-22 - Due-on-sale policy on nonregulated contracts.