N.M. Stat. § 56-10-23
Extinguishment of cause of action.
A cause of action with respect to a transfer or obligation under the Uniform Voidable
Transactions Act is extinguished unless action is brought:
A. under Paragraph (1) of Subsection A of Section 56-10-18 NMSA 1978 not later
than four years after the transfer was made or the obligation was incurred or, if later, not
later than one year after the transfer or obligation was or could reasonably have been
discovered by the claimant;
B. under Paragraph (2) of Subsection A of Section 56-10-18 NMSA 1978 or
Subsection A of Section 56-10-19 NMSA 1978 not later than four years after the
transfer was made or the obligation was incurred; or
C. under Subsection B of Section 56-10-19 NMSA 1978 not later than one year after
the transfer was made.