{"data":{"id":"us-nm/56-15-11","jurisdiction":"us-nm","citation":"56-15-11","heading":"Effect of enforcement.","body":"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:\nA. make the assignee a mortgagee in possession of the real property;\nB. make the assignee an agent of the assignor;\nC. constitute an election of remedies that precludes a later action to enforce the secured obligation;\nD. make the secured obligation unenforceable; or\nE. limit any right available to the assignee with respect to the secured obligation.","path":["Chapter 56 - Commercial Instruments and Transactions","ARTICLE 15 Uniform Assignment of Rents"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18559/index.do","current_through":"2024-04-26","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"12c817a17973b394a839faf25827b8b2e09071a51414ca2c71d19619583b8d08","source_id":"us-nm","stale":false,"prev":"us-nm/56-15-10","next":"us-nm/56-15-12"},"notice":"GroundRules: Original legal text. Not legal advice."}