New Mexico Statutes
Article 7 - Mortgages
Section 48-7-5 - [Failure to release; penalty; civil liability.]

Any person who shall be guilty of violating the preceding section [48-7-4 NMSA 1978], upon conviction before any justice of the peace [magistrate] or district court having jurisdiction of the same shall be punished by a fine of not less than ten [($10.00)] nor more than twenty-five dollars [($25.00)], and shall be liable in a civil action to the owner of such real estate for all costs of clearing the title to said property including a reasonable attorney's fee.
History: Laws 1909, ch. 51, § 2; Code 1915, § 4777; C.S. 1929, § 117-121; 1941 Comp., § 63-405; 1953 Comp., § 61-7-5.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law. For justice of the peace construed to refer to magistrate court, see 35-1-38 NMSA 1978. Pursuant to Laws 1968, ch. 62, § 40, "magistrate" was inserted in brackets throughout this section.
Ejectment denied where parties contemplated new mortgage. — Ejectment was denied where no consideration had been paid for unrecorded satisfaction of a real estate mortgage, parties having contemplated that a new mortgage was to be given in place of it, though the transaction was never carried out, so that the purported satisfaction of the old mortgage had never become effective. Davis v. Savage, 1946-NMSC-011, 50 N.M. 30, 168 P.2d 851.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 55 Am. Jur. 2d Mortgages §§ 436 et seq., 1088 et seq.
Validity and construction of statute allowing penalty and damages against mortgagee refusing to discharge mortgage on real property, 56 A.L.R. 335.
Damages recoverable for real estate mortgagee's refusal to discharge mortgage or give partial release therefrom, 8 A.L.R.4th 853.
59 C.J.S. Mortgages § 474.

Structure New Mexico Statutes