property

New Mexico Homestead Exemption

Under NMSA 42-10-9, the homestead exemption protects a person's primary residence from certain creditors, exempting $150,000 of value, or $300,000 if the claimant's spouse died within two years before the claim and would have qualified. It protects against judgment creditors' attachment, execution or foreclosure, but not against a properly perfected mortgage. New Mexico has no transfer tax, and sale prices stay confidential through the Residential Real Property Transfer Declaration Affidavit filed with the county assessor.

Exam tip: Use $150,000, not the outdated $60,000 figure that appears in older study materials.
Example: A homeowner with $180,000 of equity faces an unsecured judgment; $150,000 of the home's value is protected.

1. What is the current New Mexico homestead exemption amount for a person's primary residence (absent the surviving-spouse increase)?

Answer & explanation

Answer: B. The 2023 amendment to 42-10-9 raised the exemption from $60,000 to $150,000. $300,000 applies only when a qualifying spouse died within two years before the claim.

Related terms & state variants

homestead homestead exemption judgment lien

Sources

Source verification pending. Confirm current requirements with your state regulator.

Last verified: 2026-10-23