New Mexico Court of Appeals
878 P.2d 348 (1994)
Stamm Development Company (SDC) created a subdivision out of a tract of land. SDC then conveyed all of the subdivision lots to Allen Stamm and Associates (ASA), keeping a 2.2-acre parcel for itself. At this time, the 2.2-acre parcel was accessible by a private road. In 1963, ASA sold lot 13 of the subdivision to Merritt and Mary Barton. SDC also conveyed its 2.2-acre parcel to the Bartons. In 1982, the Bartons conveyed lot 13 and the 2.2-acre parcel to First Interstate Bank (the Bank) in the same deed. In 1984, the Bank sold lot 13. After several conveyances, the defendants came to own it. As a result of the 1984 conveyance, the 2.2-acre parcel became landlocked. In 1992, the Bank conveyed the 2.2-acre parcel to the plaintiff by special warranty deed. Because the parcel was landlocked, the plaintiff purchased the property at 50 percent of its value. The district court granted summary judgment in favor of the defendants.
Rule of Law
Holding and Reasoning (Black, J.)
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