This act [48-12-1 to 48-12-7 NMSA 1978] may be cited as the “Commercial Real Estate Broker Lien Act”. History: Laws 2014, ch. 38, § 1. ANNOTATIONS Effective dates. — Laws 2014, ch. 38, § 8 made Laws 2014, ch. 38, §§ 1 through 7, the Commercial Real Estate Broker Lien Act, effective July 1, 2014.
As used in the Commercial Real Estate Broker Lien Act: A. “broker” means a person licensed as a qualifying broker under the provisions of Chapter 61, Article 29 NMSA 1978; and B. “commercial real estate” means any real estate other than: (1) real estate on which no buildings or structures are located and that is […]
A broker shall have a lien upon commercial real estate or any interest in commercial real estate in the amount that the broker is due for licensed services connected with the leasing of the commercial real estate, if the broker: A. is entitled to a stated fee or commission provided in a written instrument that: […]
A. A broker shall record a notice of lien within ninety days following the date on which payment is due as set forth in a written instrument as required by Section 3 [48-12-3 NMSA 1978] of the Commercial Real Estate Broker Lien Act. If compensation is to be paid in installments, a broker may elect […]
A. A broker claiming a lien under the Commercial Real Estate Broker Lien Act shall, within two years after recording the notice of lien, bring suit to enforce the lien in the district court in the county where the commercial real estate is located. Failure to commence proceedings pursuant to this subsection shall extinguish the […]
A. The owner of any commercial real estate upon which a lien has been filed pursuant to the Commercial Real Estate Broker Lien Act may petition the district court for the county in which the commercial real estate is located for an order canceling the lien. B. Upon the filing of the petition, the district […]
The cost of proceedings, including trial and appellate court proceedings, brought pursuant to the Commercial Real Estate Broker Lien Act, including reasonable attorney fees, expenses of litigation and prejudgment interest, shall be awarded to the prevailing party or parties. When more than one party is responsible for costs, fees and prejudgment interest, the costs, fees […]
