As used in the Commercial Real Estate Broker Lien Act:
A. "broker" means a person licensed as a qualifying broker under the provisions of Chapter 61, Article 29 NMSA 1978; and
B. "commercial real estate" means any real estate other than:
(1) real estate on which no buildings or structures are located and that is zoned for single-family residential use; or
(2) real estate containing one or more single-family residential units, including apartments, condominiums, town houses or homes in a subdivision when sold, leased or otherwise conveyed on a unit-by-unit basis.
History: Laws 2014, ch. 38, § 2.
ANNOTATIONSEffective dates. — Laws 2014, ch. 38, § 8 made Laws 2014, ch. 38, §§ 1 through 7, the Commercial Real Estate Broker Lien Act, effective July 1, 2014.