Section 7-1-39 - Release or extinguishment of lien; limitation on actions to enforce lien. - New Mexico Statutes

7-1-39. Release or extinguishment of lien; limitation on actions to enforce lien.

A.     When any substantial part of the amount of tax due from a taxpayer is paid, the department shall immediately file, in the same county in which a notice of lien was filed, and in the same records, a document completely or partially releasing the lien. The county clerk to whom such a document is presented shall record it without charge.   

B.     The department may file, in the same county as the notice of lien was filed, a document releasing or partially releasing any lien filed in accordance with Section 7-1-38 NMSA 1978 when the filing of the lien was premature or did not follow requirements of law or when release or partial release would facilitate collection of taxes due. The county clerk to whom the document is presented shall record it without charge.   

C.     In all cases when a notice of lien for taxes, penalties and interest has been filed under Section 7-1-38 NMSA 1978 and a period of ten years has passed from the date the lien was filed, as shown on the notice of lien, the taxes, penalties and interest for which the lien is claimed shall be conclusively presumed to have been paid. The county clerk shall enter in his records a notice including the words "canceled by act of legislature" and the lien is thereby extinguished. No action shall be brought to enforce any lien extinguished in accordance with this subsection.