New Mexico Statutes 47-1-10. [Recordation of affidavit of termination of power of attorney.]
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In the absence of the recordation of an affidavit as described in Section 2 [47-1-9 N.M. Stat. Ann.] hereof, all subsequent bona fide purchasers or incumbrancers [incumbrances] without actual notice of the defects in such power of attorney as referred to in Section 1 [47-1-8 N.M. Stat. Ann.] hereof, shall be entitled to the same interest and to the same extent as they would have been had such power of attorney not been subject to such defects.
Terms Used In New Mexico Statutes 47-1-10
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC