A. Except as otherwise provided in Subsections C and D of this section, a person gives a notification or a copy of a notification pursuant to the Uniform Assignment of Rents Act:
(1) by depositing it with the United States postal service or with a commercially reasonable delivery service, properly addressed to the intended recipient's address as specified in Subsection B of this section, with first-class postage or cost of delivery provided; or
(2) if the recipient agreed to receive notification by facsimile transmission, electronic mail or other electronic transmission, by sending it to the recipient in the agreed manner at the address specified in the agreement.
B. The following rules determine the proper address for giving a notification pursuant to Subsection A of this section:
(1) a person giving a notification to an assignee shall use the address for notices to the assignee provided in the document creating the assignment of rents, but, if the assignee has provided the person giving the notification with a more recent address for notices, the person giving the notification shall use that address;
(2) a person giving a notification to an assignor shall use the address for notices to the assignor provided in the document creating the assignment of rents, but, if the assignor has provided the person giving the notification with a more recent address for notices, the person giving the notification shall use that address; and
(3) if a tenant's agreement with an assignor provides an address for notices to the tenant and the person giving notification has received a copy of the agreement or knows the address for notices specified in the agreement, the person giving the notification shall use that address in giving a notification to the tenant. Otherwise, the person shall use the address of the premises covered by the agreement.
C. If a person giving a notification pursuant to the Uniform Assignment of Rents Act and the recipient have agreed to the method for giving a notification, any notification shall be given by that method.
D. If a notification is received by the recipient, it is effective even if it was not given in accordance with Subsection A or C of this section.
History: Laws 2011, ch. 141, § 3.
Effective dates. — Laws 2011, ch. 141, § 20 made §§ 1 through 19, the Uniform Assignment of Rents Act, effective January 1, 2012.
Structure New Mexico Statutes
Chapter 56 - Commercial Instruments and Transactions
Article 15 - Uniform Assignment of Rents
Section 56-15-1 - Short title.
Section 56-15-2 - Definitions.
Section 56-15-3 - Manner of giving notification.
Section 56-15-6 - Enforcement of security interest in rents.
Section 56-15-7 - Enforcement by appointment of receiver.
Section 56-15-8 - Enforcement by notification to assignor.
Section 56-15-9 - Enforcement by notification to tenant.
Section 56-15-10 - Notification to tenant; form.
Section 56-15-11 - Effect of enforcement.
Section 56-15-12 - Application of proceeds.
Section 56-15-15 - Perfection and priority of assignee's security interest in proceeds.
Section 56-15-16 - Priority subject to subordination.
Section 56-15-17 - Uniformity of application and construction.
Section 56-15-18 - Relation to Federal Electronic Signatures in Global and National Commerce Act.