New Mexico § 19-7-12 - Outstanding contracts may be canceled and new contracts granted; conditions
Full text of New Mexico New Mexico Statutes Annotated § 19-7-12 — Outstanding contracts may be canceled and new contracts granted; conditions, with citation guidance and answers to common questions.
§ 19-7-12. Outstanding contracts may be canceled and new contracts granted; conditions
That contracts for the purchase of state lands now outstanding shall, upon application
of the holders thereof and payment of a fee of four dollars [($4.00)] for each contract
of one section or less, and ten cents [($.10)] for each additional section or fraction
thereof, be canceled, and new contracts issued under the provisions of this act, in
lieu of such outstanding contracts. Provided, that the provisions of this act shall not be applicable to lands selected
for the benefit of the Santa Fe and Grant county railroad bond fund, but such lands
shall be sold as provided by Section 19-7-13 NMSA 1978 , and outstanding contracts for such lands shall not be subject to the provisions
of this section.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 19-7-12
What does New Mexico Statutes Annotated § 19-7-12 cover?
Section 19-7-12 ("Outstanding contracts may be canceled and new contracts granted; conditions") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 19-7-12?
A common citation format is "New Mexico Statutes Annotated § 19-7-12" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 19-7-12 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.