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. History: Laws 1980, ch. 91, § 25; 1991, ch. 199, § 47. ANNOTATIONSThe 1991 amendment, effective April 4, 1991, substituted 'Sections 4-55A-23 and 4-55A-24 NMSA 1978' for 'Sections 23 and 24 of the County Improvement District Act', 'provided by Subsection A of Section 4-55A-26 NMSA 1978' for 'as now provided by law', and 'assignable certificates or bonds' for 'negotiable coupon bonds', and made a minor stylistic change.
New Mexico Legal Code