Statutes > New Mexico Statutes > Chapter 47 - Property Law. > Article 7 - Building Unit Ownership, 47-7-1 through 47-7-28. > Section 47-7-15 - Blanket encumbrances affecting a unit at time of first conveyance.

Section 47-7-15 - Blanket encumbrances affecting a unit at time of first conveyance.

47-7-15. Blanket encumbrances affecting a unit at time of first conveyance.

At the time of the first conveyance of each unit, every blanket encumbrance affecting the unit shall be paid and satisfied of record, or the unit being conveyed shall be released therefrom by partial release duly recorded.