LegalFix
Sign In

Section 48-12-3 - Broker's lien for compensation for services; requirements.

NM Stat § 48-12-3 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

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:

(1) identifies the commercial real estate;

(2) sets forth the fee or commission due and the date or dates or the circumstances under which the fee or commission is due; and

(3) is signed by the owner of the commercial real estate or the owner's authorized agent; and

B. records a notice of lien on the commercial real estate pursuant to Section 4 [48-12-4 NMSA 1978] of the Commercial Real Estate Broker Lien Act. Such lien shall only be valid against the commercial real estate identified in the written instrument described in Subsection A of this section and in the amount due for the fee or commission stated therein.

History: Laws 2014, ch. 38, § 3.

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.

Previous Section
Section 48-12-2 - Definitions.
Next Section
Section 48-12-4 - Notice of lien; attachment requirements; recording; contents; mailing.