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New Mexico Statutes Chapter 59A. Insurance Code § 59A-8-16. Valuation of purchase money mortgages

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

Purchase money mortgages or deeds of trust on real property referred to in Subsection A of Section 132 of this article shall be valued in an amount not exceeding acquisition cost of the real property covered thereby or ninety percent of the fair value of the real property, whichever is less.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 59A. Insurance Code § 59A-8-16. Valuation of purchase money mortgages - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-59a-insurance-code/nm-st-sect-59a-8-16/

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