No lien provided for in this act N.M. Stat. Ann. § 48-4-1 to 48-4-4 shall bind any real estate for a longer period than one (1) year after the same has been filed, unless proceedings be commenced in the district court in and for the county in which the real estate or any of it, described in said lien, is located within that time, to enforce the lien. The proceedings for enforcement of said claims of lien shall be under the rules of pleading, practice and procedure in the district courts and such proceedings shall be had as in the case of the foreclosure of mortgages upon real estates [estate]; and the court may allow as part of the costs of foreclosure, the moneys [monies] paid for the preparation of the claim of lien and for the filing and recording thereof, and reasonable attorney’s fees in the district and supreme courts.

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Terms Used In New Mexico Statutes 48-4-4

  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.