Chapter 47 — Chapter 47

A. Portions of the common elements may be conveyed or subjected to a security interest by the association if persons entitled to cast at least eighty percent of the votes in the association, including eighty percent of the votes allocated to units not owned by a declarant, or any…

A. Commencing not later than the time of the first conveyance of a unit to a person other than a declarant, the association shall maintain, to the extent reasonably available: (1) property insurance on the common elements insuring against all risks of direct physical loss commonl…

Unless otherwise provided in the declaration, any surplus funds of the association remaining after payment of or provision for common expenses and any prepayment of reserves shall be paid to the unit owners in proportion to their common expense liabilities or credited to them to …

A. Until the association makes a common expense assessment, the declarant shall pay all common expenses. After any assessment has been made by the association, assessments shall be made at least annually, based on a budget adopted at least annually by the association. B. Except f…

A. The association has a lien on a unit for any assesssment [assessment] levied against that unit or fines imposed against its unit owner from the time the assessment or fine becomes due. The association's lien may be foreclosed in like manner as a mortgage on real estate. Unless…

A. Except as provided in Subsection B of this section, a judgment for money against the association is not a lien on the common elements but is a lien in favor of the judgment lienholder against all of the units in the condominium at the time the transcript of judgment was record…

The association shall keep financial records sufficiently detailed to enable the association to comply with Section 61 [47-7D-9 NMSA 1978] of the Condominium Act. All financial and other records shall be made reasonably available for examination by any unit owner and his authoriz…

With respect to a third person dealing with the association in the association's capacity as a trustee, the existence of trust powers and their proper exercise by the association may be assumed without inquiry. A third person is not bound to inquire whether the association has po…

A. Except as provided in Subsection B of this section, and subject to the provisions of the declaration, the association may: (1) adopt and amend bylaws and rules and regulations; (2) adopt and amend budgets for revenues, expenditures and reserves and collect assessments for comm…

A. Except as provided in the declaration, the bylaws or other provisions of the Condominium Act, the executive board may act in all instances on behalf of the association. In the performance of their duties, the officers and members of the executive board are required to exercise…

A. No special declarant right created or reserved under the Condominium Act shall be transferred except by an instrument evidencing the transfer recorded in each county in which any portion of the condominium is located. The instrument is not effective unless executed by the tran…

If entered into before the executive board elected by the unit owners pursuant to Section 36 [47-7C-3 NMSA 1978] of the Condominium Act takes office, any management contract, employment contract or lease of recreational or parking areas or facilities, any other contract or lease …

A. The bylaws of the association shall provide for: (1) the number of members of the executive board and the titles of the officers of the association; (2) election by the executive board of a president, treasurer, secretary and any other officers of the association the bylaws sp…

A. Except to the extent provided by the declaration, Subsection B of this section or Section 46 [47-7C-13 NMSA 1978] of the Condominium Act, the association is responsible for maintenance, repair and replacement of the common elements, and each unit owner is responsible for maint…

A meeting of the association shall be held at least once each year. Special meetings of the association may be called by the president, a majority of the executive board or unit owners having twenty percent, or any lower percentage specified in the bylaws, of the votes in the ass…

A. Unless the bylaws provide otherwise, a quorum is present throughout any meeting of the association if persons entitled to cast twenty percent of the votes that may be cast for election of the executive board are present in person, by proxy or via simultaneous, remote electroni…

A. Except as provided in Subsection B of this section, Sections 53 through 72 of the Condominium Act apply to all units restricted to residential use subject to that act [47- 7A-1 through 47-7D-20 NMSA 1978]. B. Neither a disclosure statement nor a resale certificate need be prep…

Any deposit made in connection with the purchase or reservation of a unit from a person required to deliver a disclosure statement pursuant to Subsection C of Section 54 [47-7D-2 NMSA 1978] of the Condominium Act shall be placed in escrow and held either in this state or in the s…

A. In the case of a sale of a unit where delivery of a disclosure statement is required pursuant to Subsection C of Section 54 [47-7D-2 NMSA 1978] of the Condominium Act, a seller shall, before conveying a unit, record or furnish to the purchaser releases of all liens affecting t…

A. A declarant of a condominium containing conversion buildings and any person in the business of selling real estate for his own account who intends to offer units in such a condominium shall give each of the residential tenants and residential subtenants in possession of a port…

If a declarant or any other person subject to the Condominium Act fails to comply with any provision of that act or any provision of the declaration or bylaws, any person or class of persons adversely affected by the failure to comply has a claim for appropriate relief. The court…

If any improvement contemplated in a condominium is labeled "NEED NOT BE BUILT" on a plat or plan or is to be located within a portion of the condominium with respect to which the declarant has reserved a development right, no promotional material shall be displayed or delivered …

A. The declarant shall complete all improvements labeled "MUST BE BUILT" on plats or plans prepared pursuant to Section 21 [47-7B-9 NMSA 1978] of the Condominium Act. B. The declarant is subject to liability for the prompt repair and restoration, to a condition compatible with th…

A. Except as provided in Subsection B of this section, prior to the offering of any interest in a unit to the public, a declarant shall prepare a disclosure statement conforming to the requirements of Sections 55 through 58 [47-7D-3 to 47-7D-6 NMSA 1978] of the Condominium Act. B…

In case of a sale of a unit where delivery of a disclosure statement is required, a contract of sale may be executed, but no interest in that unit may be conveyed until the declaration is recorded and the unit is substantially completed, as evidenced by a recorded certificate of …

A. Except as provided in Subsection B of this section, a disclosure statement must contain or fully and accurately disclose: (1) the name and principal address of the declarant and of the condominium; (2) a general description of the condominium, including to the extent possible …

If the declaration provides that a condominium is subject to any development rights, the disclosure statement shall disclose, in addition to the information required by Section 55 [47-7D-3 NMSA 1978] of the Condominium Act: A. the maximum number of units and the maximum number of…

If the declaration provides that ownership or occupancy of any units is or may be in time shares, the disclosure statement shall disclose, in addition to the information required by Section 55 [47-7D-3 NMSA 1978] of the Condominium Act: A. a description of the time share interest…

A. The disclosure statement of a condominium containing any conversion building shall contain, in addition to the information required by Section 54 [55] [47-7D-3 NMSA 1978] of the Condominium Act: (1) a statement by the declarant, based on a report prepared by a licensed archite…

If an interest in a condominium is currently registered with the securities and exchange commission of the United States, a declarant satisfies all requirements relating to the preparation of a disclosure statement of the Condominium Act if he delivers to the purchaser a copy of …

A. A person required to deliver a disclosure statement pursuant to Subsection C of Section 54 [47-7D-2 NMSA 1978] of the Condominium Act shall provide a purchaser of a unit with a copy of the disclosure statement and all amendments thereto before conveyance of that unit and not l…

A. Except in the case of a sale where delivery of a disclosure statement is required, or unless exempt under Subsection B of Section 53 [47-7D-1 NMSA 1978] of the Condominium Act, a unit owner shall furnish to a purchaser before conveyance a copy of the declaration, other than th…

History: Laws 2013, ch. 122, § 1; recompiled as § 47-16-1 NMSA 1978.

History: Laws 2013, ch. 122, § 10; recompiled as § 47-16-10 NMSA 1978.

History: Laws 2013, ch. 122, § 11; recompiled as § 47-16-11 NMSA 1978.

History: Laws 2013, ch. 122, § 12; recompiled as § 47-16-12 NMSA 1978.

History: Laws 2013, ch. 122, § 13; recompiled as § 47-16-13 NMSA 1978.

History: Laws 2013, ch. 122, § 14; recompiled as § 47-16-14 NMSA 1978.

History: Laws 2013, ch. 122, § 2; recompiled as § 47-16-2 NMSA 1978.

History: Laws 2013, ch. 122, § 3; recompiled as § 47-16-3 NMSA 1978.

History: Laws 2013, ch. 122, § 4; recompiled as § 47-16-4 NMSA 1978.

History: Laws 2013, ch. 122, § 5; recompiled as § 47-16-5 NMSA 1978.

History: Laws 2013, ch. 122, § 6; recompiled as § 47-16-6 NMSA 1978.

History: Laws 2013, ch. 122, § 7; recompiled as § 47-16-7 NMSA 1978.

History: Laws 2013, ch. 122, § 8; recompiled as § 47-16-8 NMSA 1978.

History: Laws 2013, ch. 122, § 9; recompiled as § 47-16-9 NMSA 1978.

Sections 47-8-1 through 47-8-51 [47-8-52] NMSA 1978 may be cited as the "Uniform Owner-Resident Relations Act". History: 1953 Comp., § 70-7-1, enacted by Laws 1975, ch. 38, § 1; 1995, ch. 195, § 1.

A. The district or magistrate court of this state may exercise jurisdiction over any person with respect to any conduct in this state governed by the Uniform Owner- Resident Relations Act or with respect to any claim arising from a transaction subject to this act for a dwelling u…

Every duty under the Uniform Owner-Resident Relations Act and every act which must be performed as a condition precedent to the exercise of a right or remedy under the Uniform Owner-Resident Relations Act imposes an obligation of good faith in its performance or enforcement. Hist…

A. If the court, as a matter of law, finds that any provision of a rental agreement was inequitable when made, the court may limit the application of such inequitable provisions to avoid an inequitable result. B. If inequitability is put into issue by a party to the rental agreem…