{"data":{"id":"us-nm/48-7-20","jurisdiction":"us-nm","citation":"48-7-20","heading":"Limitation of exercise of all due-on-sale [options].","body":"A lender may not exercise its option pursuant to a due-on-sale clause upon:\nA. the creation of a lien or other encumbrance subordinate to the lender's security instrument which does not relate to a transfer of rights of occupancy in the property;\nB. the creation of a purchase money security interest for household appliances;\nC. a transfer by devise, descent or operation of law on the death of a joint tenant or tenant by the entirety;\nD. the granting of a leasehold interest of three years or less not containing an option to purchase;\nE. a transfer to a relative resulting from the death of a borrower;\nF. a transfer where the spouse or children of the borrower become an owner of the property;\nG. a transfer resulting from a decree of a dissolution of marriage, legal separation agreement or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property; or\nH. a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property.","path":["Chapter 48 - Liens and Mortgages","ARTICLE 7 Mortgages"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18551/index.do","current_through":"2024-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"f7b2dcf1d3ba6c247dcaaaa98d64848b4d1c996873afa7343c9b72116104e3e8","source_id":"us-nm","stale":false,"prev":"us-nm/48-7-19","next":"us-nm/48-7-21"},"notice":"GroundRules: Original legal text. Not legal advice."}