New Mexico Notice of Lien to a Subdivision Lot Owner For Unpaid Assessment

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US-01186BG
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Description

A subdivision is the development and division of a lot, tract, or parcel of land into two or more lots, plats, sites, or otherwise for the purpose of establishing or creating a subdivision through sale, lease, or building development. The developer will generally file a document called a Declaration of the Covenants and Restrictions of (Name of Subdivision). This Declaration is normally filed in the land records of the county where the subdivision is located, and will contain regulations regarding the administration and maintenance of the property, including payment of assessments by the owners.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

For Homeowners Associations The New Mexico Homeowners Association Act regulates the creation, authority, operation, and management of homeowners associations in the state.

In 21 states, including Minnesota, state law gives the association lien a higher priority than the first mortgage under certain circumstances. This higher priority lien is often referred to as a ?HOA super lien?.

The association's lien may be foreclosed in like manner as a mortgage on real estate. Unless the declaration otherwise provides, fees, charges, late charges, fines and interest charged pursuant to Section 47-7C-2 NMSA 1978 are enforceable as assessments under this section.

The purpose of the Lien Protection Efficiency Act is to provide for the efficient filing and recording of documents and the protection of public officials and employees and the citizens of the state against nonconsensual common law liens by imposing limitations on the circumstances in which nonconsensual common law ...

In a super lien state like Florida, the HOA gets paid first, the lender second, and if there is anything left, other junior lien holders are paid off.

To properly attach the lien, the creditor files the judgment with the county clerk in any New Mexico county where the debtor owns property now or may own property in the future.

In all cases when a notice of lien for taxes, penalties and interest has been filed under Section 7-1-38 NMSA 1978 and a period of ten years has passed from the date the lien was filed, as shown on the notice of lien, the taxes, penalties and interest for which the lien is claimed shall be conclusively presumed to have ...

Because New Mexico is not a super lien state, a bank foreclosure will take priority over a community association's lien and does not require the lender to provide any compensation to the association for unpaid assessments.

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New Mexico Notice of Lien to a Subdivision Lot Owner For Unpaid Assessment