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 N.M. Stat. Ann.].

contract signature

Ask a real estate law question, get an answer ASAP!
Thousands of highly rated, verified real estate lawyers.
Specialties include: All Real Estate Law, Landlord and Tenant Law, Foreclosure, Homeowners' Association, Trespassing, Property Law, General Legal and more.
Click here to chat with a lawyer about your rights.

Terms Used In New Mexico Statutes 47-7D-1

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC

B. Neither a disclosure statement nor a resale certificate need be prepared or delivered in the case of:

(1)     a gratuitous disposition of a unit;

(2)     a disposition pursuant to court order;

(3)     a disposition by a government or governmental agency; (4)     a disposition by foreclosure or deed in lieu of foreclosure;

(5)     a disposition to a person in the business of selling real estate who intends to offer those units to purchasers;

(6)     a disposition that may be canceled at any time and for any reason by the purchaser without penalty;

(7)     a disposition to a nonresident alien; or

(8)     a disposition of a unit restricted to nonresidential use.

  Previous section
Next section  
 Article 7D Contents