New Mexico Statutes 19-7-19. [Failure to comply with contract; forfeiture at option of commissioner.]
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Failure by a purchaser of state lands to comply with the terms and conditions of his contract of purchase shall, at the option of the commissioner, work a forfeiture of such contract after notice as prescribed by Section 19-7-50 N.M. Stat. Ann..
Terms Used In New Mexico Statutes 19-7-19
- Contract: A legal written agreement that becomes binding when signed.
In case of forfeiture all monies theretofore paid on any such contract shall remain the property of the state.