Statutes > New Mexico Statutes > Chapter 3 - Municipalities. > Article 33 - Improvement Districts, 3-33-1 through 3-33-43. > Section 3-33-27 - Improvement district; acceptance of deed in lieu of foreclosure.

Section 3-33-27 - Improvement district; acceptance of deed in lieu of foreclosure.

3-33-27. Improvement district; acceptance of deed in lieu of foreclosure.

In lieu of the foreclosure of a lien against any tract or parcel of land which is delinquent in the payment of an assessment or installment of an assessment for a period of more than one year, a municipality may accept a deed to the property subject to the lien if the owner of the property tenders the deed to the municipality.