Statutes > New Mexico Statutes > Chapter 3 - Municipalities. > Article 33 - Improvement Districts, 3-33-1 through 3-33-43. > Section 3-33-29 - Improvement district; title subject to redemption vests in trustee.

Section 3-33-29 - Improvement district; title subject to redemption vests in trustee.

3-33-29. Improvement district; title subject to redemption vests in trustee.

Upon the acceptance or purchase of the tract or parcel of land as provided in Section 3-33-27 or 3-33-28 NMSA 1978, title to the tract or parcel of land, subject to the right of redemption provided by Subsection A of Section 3-33-30 NMSA 1978, vests in the trustee of the fund from which the assignable certificates or bonds are payable.