Bulletin: NM2017001

Date:
January 11, 2017
To:
All New Mexico Issuing Offices
RE:
UNDERWRITING - Statute of Limitations for Commonly Encountered Liens

Dear Associates:

This bulletin sets forth the applicable limitations periods for most, but not all, of the federal, state, and local liens you may encounter in your search and examination. Absent unusual circumstances, if the limitation period has expired, you do not need to make any requirements for release of the lien or include the lien as a Schedule B-2 exception. 

Type of Lien

Statute of Limitations

Statute/Rule

Abstracter’s Lien

1 year from date of filing

§ 48-4-4 NMSA 1978

Artesian Conservancy District Lien

10 years from date of recording

§ 73-1-22 NMSA 1978; § 7-1-39 NMSA 1978

Building Unit Owner Association Lien

None

§ 47-7-24 NMSA 1978

Business Improvement District

4 years from date of filing

§ 3-63-14 NMSA 1978

Child Support Enforcement Lien

None

§ 40-4A-19 NMSA 1978; § 8.50.111.14 NMAC

Commercial Real Estate Broker Lien

2 years after recording

§ 48-12-5 NMSA 1978

Condominium Association Lien

3 years after the full amount of the assessments are due

§ 47-7C-16 NMSA 1978

Convention Center Fees Lien

4 years from date of filing

§ 5-14-11 NMSA 1978

County Improvement District

None

§ 4-55A-7 NMSA 1978; § 4-55A-19 NMSA 1978

Federal Estate Tax Lien – no filing

10 years from date of decedent’s death

26 U.S.C. 6324

Federal mortgages held by the United States:  SBA, Farmers Home Administration, Farm Credit Banks

None

None

Federal Tax Lien

10 years plus 30 days; may be refiled for additional 10 years plus 30 days (but beware of possible “hidden” extensions)

26 U.S.C. 6323

Homeowner Association Lien

None

§ 47-16-6 NMSA 1978

Horticultural Lien

60 days from date of filing

§ 76-3-5 NMSA 1978

Mechanic’s/Materialmen’s Lien

2 years from date of recording

§ 48-2-10 NMSA 1978

Mortgage/Deed of Trust

Term of mortgage/deed of trust plus 6 years

§ 37-1-3 NMSA 1978

Municipal Liens (weed, refuse, sewer, utilities, etc.)

4 years from date of filing

§ 37-1-4 NMSA 1978 (interpreted in Hurley v. Village of Ruidoso, 131 P.3d 693 (N.M. Ct. App. 2006)

New Mexico State Tax Lien

10 years from date of recording

§ 7-1-39 NMSA 1978

Nonconsensual Common Law Liens

Not enforceable, but a cloud on title; no applicable limitations period

§ 48-1A-5 NMSA 1978

Statutory Unitization Lien

None

§ 7-7-14 NMSA 1978

Transcript of Judgment (domesticated Foreign Judgment)

Law of foreign jurisdiction will control

§ 39-4A-3 NMSA 1978

Transcript of Judgment (Federal Court)

14 years from date of judgment  (NOT date of recording TJ)

28 U.S.C. 1962

Transcript of Judgment (State Court)

14 years from date of judgment (NOT date of recording TJ)

§ 39-1-6 NMSA 1978; § 37-1-2

Transcript of Judgment (United States as judgment creditor)

20 years from date of judgment; may be extended for additional 20 years upon satisfaction of certain conditions

28 U.S.C. 3201

Warrant of Levy and Lien (NM Employment Security Division)

None

§ 51-1-36 NMSA 1978

Well and Pipeline Lien

1 year from date of filing

§ 70-4-7 NMSA 1978

If you have any questions about whether a limitation period would bar enforcement of a lien, please contact your underwriter.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.  

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
NM2015002 UNDERWRITING - Insuring Construction Loans in New Mexico; New Rules Effective August 1 and August 15, 2014
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None