New Mexico Appeals Court Says Lender’s Subsidiary Is Not A Subsequent Purchaser

(February 16, 2021, 12:26 PM EST) -- ALBUQUERQUE, N.M. — A New Mexico appeals court panel on Feb. 11 affirmed a general contractor’s summary judgment award in a construction defects lawsuit, finding that the subsidiary of a lender that obtained possession of a three-story office building as a result of foreclosure was not a subsequent purchaser that could pursue a claim for negligence against the builder and that the economic loss doctrine was inapplicable....

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