{"data":{"id":"us-nm/48-7-22","jurisdiction":"us-nm","citation":"48-7-22","heading":"Due-on-sale policy on nonregulated contracts.","body":"In the exercise of its option under a due-on-sale clause, a lender is encouraged to permit an assumption of a real property loan at the existing contract rate or at a rate which is at or below the average between the contract and market rates, and nothing in this act [48-7-15 to 48-7-24 NMSA 1978] shall be interpreted to prohibit any such assumption.","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":"299cdff6ad72488b0d11d06100ffaeb4d7914d22b4dfef9cc253620f4476b174","source_id":"us-nm","stale":false,"prev":"us-nm/48-7-21","next":"us-nm/48-7-23"},"notice":"GroundRules: Original legal text. Not legal advice."}