The Act is codified as Sections 56-15-1 thru 56-15-19 NMSA.
By Victor E. Carlin
The New Mexico Assignment Of Rents Act is good news for all concerned. All lenders and attorneys that are involved with commercial mortgages and/or commercial assignments of rent should become familiar with the Act. Some of the highlights are as follows:
1. As a general rule, a document that creates a security interest in real property, such as a mortgage, will henceforth create an assignment of rents arising from the real property, whether or not the document…
By Alicia L. Gutierrez and Victor E. Carlin
On April 22, 2011 the New Mexico Court of Appeals issued an important opinion on garnishments of joint bank accounts. Alcantar and Sanchez v. Wells Fargo Bank, NA, Case No. 28,436.
The case deals with the garnishment of a bank account with several joint owners by a judgment creditor of only one of the joint owners. The Court of Appeals opinion requires significant changes in bank procedure. As a result, every bank in New Mexico needs to look at their policy and procedures regarding garnishments and…
We recommend our clients have both a living will and durable power of attorney governing their health care – without them you can lose control of your treatment and affairs while temporarily incapacitated or in a terminal condition.
We recommend our clients have both a living will and durable power of attorney governing their health care – without them you can lose control of your treatment and affairs while temporarily incapacitated or in a terminal condition.
A living will is the commonly-used name for a written medical directive outlining your desires with respect to…
As more of New Mexico’s National Guard members or reservists are called to active duty, employers should be aware that state and federal laws provide strong protection to employees and job candidates who serve in the armed forces or the National Guard.
For example, under federal law and providing certain conditions are met an honorably discharged veteran has a right to full reemployment, and cannot be laid off for one year.
This article summarizes the federal and New Mexico laws. If your business has employees in other states, the laws in those states should…
by Alicia Gutierrez
Several states, including New Mexico, have now passed laws giving employers immunity if they are truthful while giving a reference for a former employee.
These laws are a direct result of the fear of lawsuits that has made the job reference virtually extinct in an era when it is most needed. References are more important than ever because the American work force is mobile as never before – almost 60 percent of the domestic workforce has worked for their current employer less than five years.
The situation is…
