That the possibility or right of reversion for breach or violation of condition or conditions subsequent contained in any deed or other instrument conveying real estate in the state of New Mexico, is hereby made assignable, and the grantor in any such instrument heretofore or hereafter made affecting real estate in the state of New Mexico, is given the right to assign and transfer such future contigent [contingent] right of reentry, forfeiture and reversion for violation or breach of such condition or conditions subsequent.
History: Laws 1937, ch. 4, § 1; 1941 Comp., § 75-118; 1953 Comp., § 70-1-21.
ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Possibility of reverter comes within section and is an alienable contingent reversionary interest. Prince v. Charles Ilfeld Co., 1963-NMSC-135, 72 N.M. 351, 383 P.2d 827.
For purpose of triggering a reversionary clause in a deed for immoral purpose, an owner of a mobile home park was not "using" property for an immoral purpose when renting to cohabiting couples, or to tenants engaged in drug trafficking in the absence of a showing of knowledge of the drug trafficking. Maloof v. Pierskorn, 2004-NMCA-126, 136 N.M. 516, 101 P.3d 327, cert. denied, 2004-NMCERT-011, 136 N.M. 656, 103 P.3d 580.
Law reviews. — For article, "Toward Clarification of New Mexico's Real Property Statutes," see 1 Nat. Res. J. 163 (1961).
Am. Jur. 2d, A.L.R. and C.J.S. references. — 28 Am. Jur. 2d Estates § 315.
Reversion of title upon abandonment or vacation of public street or highway, 18 A.L.R. 1008, 70 A.L.R. 564.
Reverter, release of possibility of, as vesting fee in grantee, 38 A.L.R. 1111.
Grant to one for life, and afterwards, either absolutely or contingently, to grantor's heirs or next of kin, as leaving reversion or creating remainder, 16 A.L.R.2d 691.
Validity and effect of transfer of possibility of reverter or right of re-entry, following conveyance of determinable fee or fee subject to condition subsequent, 53 A.L.R.2d 224.
Divorce property distribution: treatment and method of valuation of future interest in real estate or trust property not realized during marriage, 62 A.L.R.4th 107.
31 C.J.S. Estates § 106.