N.M. Admin. Code § 19.2.8.18

Current through Register Vol. 35, No. 23, December 10, 2024

Section 19.2.8.18 - CANCELLATION

A. The commissioner may cancel any agricultural lease:

(1) obtained by fraud;

(2) executed through mistake or without authority of law;

(3) that is in default for violation of any of the lease terms, covenants or conditions, which include these rules and applicable statutes, including nonpayment of rentals; or

(4) that is in default for the lessee's failure to protect the leased lands from trespass or waste.

B. The commissioner may enter lease cancellation thirty (30) days after providing the lessee and any collateral assignees with notice of default by certified mail.

(1) Lease cancellation shall not be made if, within such thirty (30) day period, the lessee shall either comply with the commissioner's demands for cure, or appear before the commissioner and show good cause, as determined by the commissioner, why the lease should not be cancelled.

(2) The commissioner may at any time enforce the lien against improvements to satisfy delinquent rentals.

N.M. Admin. Code § 19.2.8.18

3/11/81, 9/30/85, 12/1/92, 6/29/96; 19.2.8.18 NMAC - Rn, 19 NMAC 3 SLO 8.18, 09/30/02