Western Savings & Loan Ass'n v. CFS Portales Ethanol I, Ltd.

OPINION

WALTERS, Justice.

Are twenty-five year leaseholds and the buildings constructed thereon, both of which served as security for construction loans to build those structures, within the meaning of “real estate” and thus subject to redemption after a foreclosure sale? That is the issue certified to us by Judge John E. Conway of the United States District Court for the District of New Mexico. Our opinion is confined strictly to the question certified.

Western Savings and Loan Association filed an action for judgment against CFS Portales Ethanol I on two promissory notes, and for foreclosure…