N.M. Stat. § 72-1-2.1
Water rights; change in ownership; filing and recording;
constructive notice.
In the event of any changes of ownership of a water right, whether by sale, gift or
any other type of conveyance, affecting the title to a water right that has been permitted
or licensed by the state engineer, has been declared with the state engineer or has
been adjudicated and is evidenced by a subfile order, partial final decree, final decree or
any other court order, the new owner of the water right shall file a change of ownership
form with the state engineer. The form shall include all information conforming with
water rights of record filed with the state engineer and shall be accompanied by a copy
of a warranty deed or other instrument of conveyance. The new owner shall record a
copy of the change of ownership form filed with the state engineer with the clerk of the
county in which the water right will be located. The filing shall be public notice of the
existence and contents of the instruments so recorded from the time of recording with
the county clerk.