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.
New Mexico Complaint to Compel Mortgagee to Execute and Record Satisfaction and Discharge of Mortgage
State:
Multi-State
Control #:
US-02785BG
Format:
Word;
Rich Text
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How to fill out Complaint To Compel Mortgagee To Execute And Record Satisfaction And Discharge Of Mortgage?
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FAQ
The redemption rights clause gives the owner of a property the right to reclaim his/her property during a foreclosure auction. The clause is often included in a mortgage agreement. Redemption rights allow the borrower to prevent foreclosure on the property by paying all liens or back taxes on the property.
Right of redemption is a legal process that allows a delinquent mortgage borrower to reclaim their home or other property subject to foreclosure if they are able to repay their obligations in time.
Does New Mexico Law Allow for a Redemption Period After a Foreclosure? Yes, New Mexico law allows a borrower to redeem a property within nine months of the foreclosure sale date. The borrower must pay the foreclosure sale price, costs, fees and interest in order to redeem the property.
A New Mexico deed of trust assigns a real estate title to a trustee to keep until a loan has been repaid from the owner of the property (the ?borrower?) to the provider of the loan (the ?lender?).
? To redeem property, the redemption statute requires a debtor to pay only the amount paid at the foreclosure sale, with interest from the date of purchase at the rate of ten percent a year; all taxes, interest and penalties that were paid by the purchaser; and all payments made by the purchaser to satisfy in whole or ...
A party claiming ownership of land by adverse possession must prove by clear and convincing evidence continuous adverse possession for 10 years under color of title, in good faith, and payment of taxes on the property during those years.