THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
Bulletin: NM2017001
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Bulletin: NM2017001
Dear Associates:
This bulletin sets forth the applicable limitations periods for most, but not all, of the federal, state, and local liens you may encounter in your search and examination. Absent unusual circumstances, if the limitation period has expired, you do not need to make any requirements for release of the lien or include the lien as a Schedule B-2 exception.
Type of Lien | Statute of Limitations | Statute/Rule |
Abstracter’s Lien | 1 year from date of filing | § 48-4-4 NMSA 1978 |
Artesian Conservancy District Lien | 10 years from date of recording | § 73-1-22 NMSA 1978; § 7-1-39 NMSA 1978 |
Building Unit Owner Association Lien | None | § 47-7-24 NMSA 1978 |
Business Improvement District | 4 years from date of filing | § 3-63-14 NMSA 1978 |
Child Support Enforcement Lien | None | § 40-4A-19 NMSA 1978; § 8.50.111.14 NMAC |
Commercial Real Estate Broker Lien | 2 years after recording | § 48-12-5 NMSA 1978 |
Condominium Association Lien | 3 years after the full amount of the assessments are due | § 47-7C-16 NMSA 1978 |
Convention Center Fees Lien | 4 years from date of filing | § 5-14-11 NMSA 1978 |
County Improvement District | None | § 4-55A-7 NMSA 1978; § 4-55A-19 NMSA 1978 |
Federal Estate Tax Lien – no filing | 10 years from date of decedent’s death | 26 U.S.C. 6324 |
Federal mortgages held by the United States: SBA, Farmers Home Administration, Farm Credit Banks | None | None |
Federal Tax Lien | 10 years plus 30 days; may be refiled for additional 10 years plus 30 days (but beware of possible “hidden” extensions) | 26 U.S.C. 6323 |
Homeowner Association Lien | None | § 47-16-6 NMSA 1978 |
Horticultural Lien | 60 days from date of filing | § 76-3-5 NMSA 1978 |
Mechanic’s/Materialmen’s Lien | 2 years from date of recording | § 48-2-10 NMSA 1978 |
Mortgage/Deed of Trust | Term of mortgage/deed of trust plus 6 years | § 37-1-3 NMSA 1978 |
Municipal Liens (weed, refuse, sewer, utilities, etc.) | 4 years from date of filing | § 37-1-4 NMSA 1978 (interpreted in Hurley v. Village of Ruidoso, 131 P.3d 693 (N.M. Ct. App. 2006) |
New Mexico State Tax Lien | 10 years from date of recording | § 7-1-39 NMSA 1978 |
Nonconsensual Common Law Liens | Not enforceable, but a cloud on title; no applicable limitations period | § 48-1A-5 NMSA 1978 |
Statutory Unitization Lien | None | § 7-7-14 NMSA 1978 |
Transcript of Judgment (domesticated Foreign Judgment) | Law of foreign jurisdiction will control | § 39-4A-3 NMSA 1978 |
Transcript of Judgment (Federal Court) | 14 years from date of judgment (NOT date of recording TJ) | 28 U.S.C. 1962 |
Transcript of Judgment (State Court) | 14 years from date of judgment (NOT date of recording TJ) | § 39-1-6 NMSA 1978; § 37-1-2 |
Transcript of Judgment (United States as judgment creditor) | 20 years from date of judgment; may be extended for additional 20 years upon satisfaction of certain conditions | 28 U.S.C. 3201 |
Warrant of Levy and Lien (NM Employment Security Division) | None | § 51-1-36 NMSA 1978 |
Well and Pipeline Lien | 1 year from date of filing | § 70-4-7 NMSA 1978 |
If you have any questions about whether a limitation period would bar enforcement of a lien, please contact your underwriter.
If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.
For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None