Statutes > New Mexico Statutes > Chapter 19 - Public Lands. > Article 8 - Lease of Mineral Lands, 19-8-1 through 19-8-33. > Section 19-8-3 - Lessee's preferential right to  renew or purchase; notice to vacate when another purchases.

Section 19-8-3 - Lessee's preferential right to  renew or purchase; notice to vacate when another purchases.

19-8-3. [Lessee's preferential right to  renew or purchase; notice to vacate when another purchases.]

Any lessee of such mineral lands, or the heirs, successors or assigns of such lessee, shall have a preferential right to a renewal lease, or to purchase during the life of such lease, provided all terms and conditions of the expiring lease shall have been fully performed. In case of purchase by another, one  year's notice to vacate shall be given to the lessee.