Statutes > New Mexico Statutes > Chapter 4 - Counties. > Article 55A - County Improvement Districts, 4-55A-1 through 4-55A-43. > Section 4-55A-25 - Improvement district; title subject to redemption vests in trustee.

Section 4-55A-25 - Improvement district; title subject to redemption vests in trustee.

4-55A-25. Improvement district; title subject to redemption vests in trustee.

Upon the acceptance or purchase of the tract or parcel of land as provided in Sections 4-55A-23 and 4-55A-24 NMSA 1978, title to the tract or parcel of land, subject to the right of redemption provided by Subsection A of Section 4-55A-26 NMSA 1978, vests in the trustee of the fund from which the assignable certificates or bonds are payable.