N.M. Stat. § 48-7-1 : — LIENS AND MORTGAGESMORTGAGES —7-1 - Right of possession TEXT PDF In the absence of stipulation to the contrary, the mortgagor of real poperty [property] shall have the right of possession. NMS § 48-7-1 Laws 1876, ch. 36, § 8; C.L. 1884, § 1593; C.L. 1897, § 2365; Code 1915, § 571; 1941 Comp., § 63-401; 1953 Comp., § 61-7-1; Laws 1961, ch. 96, § 11-116.