Section 56-10-23 - Extinguishment of cause of action. - New Mexico Statutes

56-10-23. Extinguishment of cause of action.

A cause of action with respect to a fraudulent transfer or obligation under the Uniform Fraudulent Transfer Act [56-10-14 to 56-10-25 NMSA 1978] is extinguished unless action is brought:   

A.     under Paragraph (1) of Subsection A of Section 5 [56-10-18 NMSA 1978] of the Uniform Fraudulent Transfer Act, within four years after the transfer was made or the obligation was incurred or, if later, within one year after the transfer or obligation was or could reasonably have been discovered by the claimant;   

B.     under Paragraph (2) of Subsection A of Section 5 or Subsection A of Section 6 [56-10-19 NMSA 1978] of that act, within four years after the transfer was made or the obligation was incurred; or   

C.     under Subsection B of Section 6 of that act, within one year after the transfer was made or the obligation was incurred.