New Mexico 2025 Regular Session Status: In Committee 1 R cosponsors

HB 583 — REDEMPTION RIGHT SALE OR TRANSFER

Last action — action postponed indefinitely

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2025 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill amends the law governing redemption rights after foreclosure sales by restricting the sale or assignment of those rights to third parties.

  • Section 39-5-18

    [or by any junior mortgagee or other junior lienholder whose rights were judicially determined in the foreclosure proceeding] → the defendant owner's heirs, family or relatives within three degrees of consanguinity, a nonprofit housing organization or a junior mortgagee or junior lienholder:

    Adds eligible parties who can redeem property after foreclosure to include family members and nonprofit organizations.

  • Section 39-5-18

    [If the former defendant owner does not redeem the real estate as provided in this subsection, each junior mortgagee or junior lienholder shall have a right to redeem the real estate. The order of priority of such redemption rights shall be the same priority as the underlying mortgages or liens, as set forth in the court order, judgment or decree of foreclosure or as otherwise determined by the court.] → A junior mortgagee or junior lienholder may exercise redemption rights only to protect a secured financial interest and shall not transfer, sell or assign redemption rights to a third party.

    Eliminates the previous priority system for junior mortgagees and lienholders and prohibits them from transferring redemption rights.

Action History

  1. action postponed indefinitely

  2. Sent to House Commerce & Economic Development Committee & House Judiciary Committee

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 111 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (111)

111 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

housing
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Frequently asked questions

Who sponsors HB 583?
HB 583 is sponsored by John Block (Republican).
What is the current status of HB 583?
This bill died with 2025 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 583?
Track HB 583 free on One Click Politics — get push/email alerts when it moves.

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