N.M. Stat. § 45-2-912
Possibility of reverter, right of entry, executory interest.
A possibility of reverter preceded by a fee simple determinable, a right of entry
preceded by a fee simple subject to a condition subsequent or an executory interest
preceded by either a fee simple determinable or a fee simple subject to an executory
limitation becomes invalid, and the preceding fee simple becomes a fee simple
absolute, if the right to vest in possession of the possibility of reverter, right of entry or
executory interest depends on an event or events affecting the use of real property and
if the possibility of reverter, right of entry or executory interest does not actually vest in
possession within thirty years after its creation.