There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 48: Liens and Mortgages
Article 7: Mortgages, 48-7-1 through 48-7-24
Section 48-7-18: Real property loan contract controls.
NM Stat § 48-7-18 (1996 through 1st Sess 50th Legis) What's This?
48-7-18. Real property loan contract controls.
Except as otherwise provided in Sections 5 and 6 [48-7-19 and 48-7-20 NMSA 1978] of this act, the exercise by the lender of its option pursuant to a due-on-sale clause shall be exclusively governed by the terms of the loan contract, and all rights and remedies of the lender and the borrower shall be fixed and governed by the contract.
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