2016 New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 2 - Intestate Succession and Wills
Part 9 - UNIFORM STATUTORY RULE AGAINST PERPETUITIES; HONORARY TRUSTS; TRUSTS FOR PETS; TIME LIMITS ON OPTIONS IN GROSS AND CERTAIN OTHER INTERESTS IN REAL PROPERTY
Subpart 3 - . Time Limits On Options In GrossAnd Certain Other Interests In Real Property
Section 45-2-909 - Interest in real property.
45-2-909. Interest in real property.
An option in gross with respect to an interest in real property or a preemptive right in the nature of a right of first refusal in gross with respect to an interest in real property becomes invalid if it is not actually exercised within thirty years after its creation.
History: 1978 Comp., 45-2-909, enacted by Laws 2011, ch. 124, 36.
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