0001| HOUSE JUDICIARY COMMITTEE SUBSTITUTE FOR | 0002| HOUSE BILL 137 | 0003| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0004| | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO PROPERTY; REQUIRING CERTAIN INFORMATION TO BE | 0013| FURNISHED TO COUNTY ASSESSORS IN CONNECTION WITH THE TRANSFER | 0014| OF AN INTEREST IN REAL PROPERTY BY A TRANSFER INSTRUMENT. | 0015| | 0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0017| Section 1. TRANSFER OF AN INTEREST IN REAL PROPERTY--USE | 0018| OF AN AFFIDAVIT TO RECORD INFORMATION.-- | 0019| A. Except as indicated in Subsection B of this | 0020| section, a county clerk or his employee shall not accept for | 0021| recording or record a transfer instrument unless the transfer | 0022| instrument presented is accompanied by an affidavit that meets | 0023| the requirements set forth in this section. | 0024| B. The affidavit shall not be required for: | 0025| (1) a transfer instrument for the transfer of | 0001| residential property for no or nominal consideration; | 0002| (2) a transfer instrument that results from | 0003| the payment in full or forfeiture by a transferee under a | 0004| recorded transfer instrument; | 0005| (3) an instrument solely to provide or release | 0006| security for a debt or obligation; | 0007| (4) an instrument arising out of a sale for | 0008| delinquent taxes or assessments; | 0009| (5) an instrument that is being recorded | 0010| solely for curative reasons to clear defects in the chain of | 0011| title; or | 0012| (6) a transfer instrument that results when | 0013| the state, a county or a city is a transferor or transferee. | 0014| C. When presenting a transfer instrument for | 0015| recording, a person shall present the transfer instrument and | 0016| an affidavit to the county clerk. The affidavit shall be | 0017| signed by the tranferors and transferees of any interest in | 0018| residential property transferred by a transfer instrument. The | 0019| affidavit shall contain at least the following information: | 0020| (1) the complete names of all transferors and | 0021| transferees; | 0022| (2) the current mailing addresses of the | 0023| transferors and transferees; | 0024| (3) the legal description of the real property | 0025| interest transferred as it appears in the document of transfer; | 0001| and | 0002| (4) the full consideration, including money or | 0003| any other thing of value paid or exchanged for the transfer. | 0004| D. Upon receipt of the affidavit meeting the | 0005| requirements of this section, the county clerk shall at no | 0006| additional cost present a copy of the recorded transfer instrument | 0007| and the affidavit to the county assessor who shall place the date | 0008| of receipt on the affidavit and shall retain it as a permanent | 0009| record. The county clerk shall not make a copy of the affidavit. | 0010| E. Prior to January 1, 1998, the taxation and revenue | 0011| department shall print and distribute to each county assessor | 0012| affidavit forms for distribution to the public upon request. | 0013| F. A transfer instrument erroneously recorded | 0014| without the receipt of an affidavit shall not be void, voidable, | 0015| invalid or affected in any manner by a mistake or error in | 0016| recording. | 0017| G. For the purposes of this section: | 0018| (1) "transfer instrument" means a document, the | 0019| execution and delivery of which by a transferor to a transferee, | 0020| that creates in the transferee a legal or equitable ownership | 0021| interest in residential property but does not include those that | 0022| are executed and delivered solely for curative purposes to cure | 0023| defects in the chain of title; and | 0024| (2) "residential property" means a dwelling and | 0025| the underlying real property designed for occupancy by one to four | 0001| families and includes mobile homes and condominiums. | 0002| Section 2. CONFIDENTIALITY.--The affidavit and its contents | 0003| are confidential and shall not be disclosed except: | 0004| A. to employees in the clerk's office and the | 0005| assessor's office and employees of the taxation and revenue | 0006| department, any of whom must have a demonstrated need for the | 0007| information in carrying out their official duties; | 0008| B. under an order of a court of competent | 0009| jurisdiction; | 0010| C. in connection with a protest under Section 7-38-21 | 0011| NMSA 1978; or | 0012| D. for statistical purposes if used in a way that the | 0013| information disclosed is not identifiable or identified as | 0014| applicable to any property owner or person in possession of the | 0015| property. | 0016| Section 3. EFFECTIVE DATE.--The effective date of the | 0017| provisions of this act is January 1, 1998. | 0018|  |