Skip to main content
Find a Lawyer

New Mexico Statutes Chapter 56. Commercial Instruments and Transactions § 56-15-11. Effect of enforcement

Current as of January 01, 2024 | Updated by Findlaw Staff

The enforcement of an assignment of rents by one or more of the methods identified in Sections 7, 8 and 9 of the Uniform Assignment of Rents Act, the application of proceeds by the assignee pursuant to Section 12 of that act after enforcement, the payment of expenses pursuant to Section 13 of that act or an action pursuant to Subsection D of Section 14 of that act does not:

A. make the assignee a mortgagee in possession of the real property;

B. make the assignee an agent of the assignor;

C. constitute an election of remedies that precludes a later action to enforce the secured obligation;

D. make the secured obligation unenforceable; or

E. limit any right available to the assignee with respect to the secured obligation.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - New Mexico Statutes Chapter 56. Commercial Instruments and Transactions § 56-15-11. Effect of enforcement - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-56-commercial-instruments-and-transactions/nm-st-sect-56-15-11/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard