No such assignment shall be approved by the commissioner of public lands until all delinquent payments on the lease or purchase contract so assigned have been paid; and nothing herein contained shall prevent the commissioner of public lands from canceling any lease or purchase contract so assigned because of the failure to make any payments due thereon, or for any noncompliance with the provisions of said lease or purchase contract. None of the provisions of this act [19-7-37 to 19-7-45 NMSA 1978] shall be held to give any assignee or purchaser any preference or priority over the lien or claim of the state on any lease or purchase contract so assigned, or the improvements thereon, as now or hereafter provided by law; and any such assignment and any rights acquired on any foreclosure thereof shall be subject to the lien and claim of the state on such lease or purchase contract and the improvements thereon.

History: Laws 1933, ch. 126, § 8; 1937, ch. 51, § 4; 1941 Comp., § 8-843; 1953 Comp., § 7-8-45.

ANNOTATIONS

Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.

Cross references. — For forfeiture of purchase contract for failure to comply therewith, see 19-7-19 NMSA 1978.

For state's first lien on improvements and crops on leased lands, see 19-7-34 NMSA 1978.

For forfeiture of lease upon failure to pay rent, see 19-7-34, 19-7-35 NMSA 1978.

For forfeiture procedure on violation of lease or other written instrument, see 19-7-50 NMSA 1978.