N.M. Admin. Code § 19.2.9.21

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

Section 19.2.9.21 - EXISTING LEASES

Except as provided in this section, the commissioner may not lease under a business lease any trust land currently leased under an existing surface lease unless the existing lessee relinquishes the existing lessee's interest in the trust land or the commissioner exercises any right of withdrawal of land which the commissioner may have. Notwithstanding the foregoing, the commissioner may determine that a proposed business lease will not unreasonably interfere with the authorized uses under an existing lease, and may allow a new business lease in compliance with the following requirements.

A. The new business lease shall identify the existing lease, shall state that the new business lessee's rights and privileges are subject to the existing lessee's rights and privileges under the existing lease, unless waived or amended, and shall provide that the new business lessee will not interfere with the uses permitted under the existing lease.

B. The existing lessee must consent in writing to the new business lease.

N.M. Admin. Code § 19.2.9.21

19.2.9.21 NMAC - N, 5/15/2001, Amended by New Mexico Register, Volume XXX, Issue 11, June 11, 2019, eff. 6/11/2019