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Effect of enforcement

NMSA 1978, § 56-15-11
in effect
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56-15-11. Effect of enforcement The enforcement of an assignment of rents by one or more of the methods identified in Sections 7, 8 and 9 [56-15-7, 56-15-8 and 56-15-9 NMSA 1978] of the Uniform Assignment of Rents Act, the application of proceeds by the assignee pursuant to Section 12 [56-15-12 NMSA 1978] of that act after enforcement, the payment of expenses pursuant to Section 13 [56-15-13 NMSA 1978] of that act or an action pursuant to Subsection D of Section 14 [56-15-14 NMSA 1978] 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. Laws 2011, ch. 141, § 11.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18559/index.do#!b/56-15-11Fetched: 10/20/2026

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