2006 New Mexico Statutes - 45-5-604 — Construction of power relating to real estate transactions.

45-5-604. Construction of power relating to real estate transactions.

In a statutory power of attorney, the language granting power with respect to real estate transactions empowers the agent to:   

(1)     accept as a gift or as security for a loan, reject, demand, buy, lease, receive or otherwise acquire, an interest in real property or a right incident to real property;   

(2)     sell, exchange, convey with or without covenants, quitclaim, release, surrender, mortgage, encumber, partition, consent to partitioning, subdivide, apply for zoning, rezoning or other governmental permits, plat or consent to platting, develop, grant options concerning, lease, sublease or otherwise dispose of, an interest in real property or a right incident to real property;   

(3)     release, assign, satisfy and enforce by litigation or otherwise, a mortgage, deed of trust, encumbrance, lien or other claim to real property which exists or is asserted;   

(4)     do any act of management or of conservation with respect to an interest in real property, or a right incident to real property, owned or claimed to be owned, by the principal, including;   

(i) insuring against a casualty, liability or loss;   

(ii) obtaining or regaining possession or protecting the interest or right, by litigation or otherwise;   

(iii) paying, compromising or contesting taxes or assessments, or applying for and receiving refunds in connection with them; and   

(iv) purchasing supplies, hiring assistance or labor and making repairs or alterations in the real property;   

(5)     use, develop, alter, replace, remove, erect or install structures or other improvements upon real property in or incident to which the principal has, or claims to have, an interest or right;   

(6)     participate in a reorganization with respect to real property or a legal entity that owns an interest in or right incident to real property and receive and hold shares of stock or obligations received in a plan of reorganization, and act with respect to them, including:   

(i) selling or otherwise disposing of them;   

(ii) exercising or selling an option, conversion or similar right with respect to them; and   

(iii) voting them in person or by proxy;   

(7)     change the form of title of an interest in or right incident to real property; and   

(8)     dedicate to public use, with or without consideration, easements or other real property in which the principal has, or claims to have, an interest.