N.M. Admin. Code § 13.14.7.19

Current through Register Vol. 35, No. 20, October 22, 2024

Section 13.14.7.19 - RESIDENTIAL LIMITED COVERAGE JUNIOR LOAN POLICY

A title insurer or title insurance agency may, issue NM form 45 if all of the following conditions exist:

A. the real property to be insured is one to four family residential property;

B. the real property is located within an approved and recorded subdivision;

C. the title insurance agency or title insurer has a complete copy of the loan policy issued to an insured senior lender before the commencement of the title search; and

D. the loan is less than or equal to $125,000.

N.M. Admin. Code § 13.14.7.19

6-16-86, 3-1-88; 13.14.7.19 NMAC - Rn, 13 NMAC 14.7.19, 5-15-00; A, 10-1-12; A, 7-31-14, Amended by New Mexico Register, Volume XXVI, Issue 24, December 30, 2015, eff. 3/1/2016, Adopted by New Mexico Register, Volume XXXI, Issue 24, December 29, 2020, eff. 1/1/2021