Section 47-16-11 – Contract disclosure statement or disclosure certificate; right of cancellation of purchase contract.
Except as provided in Section 12 [47-16-12 NMSA 1978] of the Homeowner Association Act, a person selling a lot that is subject to an association shall provide in writing a disclosure certificate that states that the lot is located within a development that is subject to an association. If the lot is located within a […]
Section 47-16-12 – Sale of lots; disclosure certificate.
A. Unless exempt pursuant to Subsection F of this section, prior to closing, a lot owner shall furnish to a purchaser copies of: (1) the declaration of the association, other than the plats and plans; (2) the bylaws of the association; (3) any covenants, conditions and restrictions applicable to the lot; (4) the rules of […]
Section 47-15-6 – Waiver not allowed.
Any waiver by an owner of the provisions of the Mortgage Foreclosure Consultant Fraud Prevention Act is void and unenforceable as contrary to public policy. Any attempt by a foreclosure consultant to induce an owner to waive the owner’s rights under the Mortgage Foreclosure Consultant Fraud Prevention Act is a violation of that act. History: […]
Section 47-15-7 – Remedies.
A. A violation of the Mortgage Foreclosure Consultant Fraud Prevention Act constitutes an unfair trade practice pursuant to the Unfair Practices Act [Chapter 57, Article 12 NMSA 1978]. B. A prevailing plaintiff in a suit for violation of the Mortgage Foreclosure Consultant Fraud Prevention Act may recover actual damages, reasonable attorney fees and costs and […]
Section 47-15-8 – Penalty.
A person who commits a violation of the provisions of Section 5 [47-15-5 NMSA 1978] of the Mortgage Foreclosure Consultant Fraud Prevention Act is guilty of a fourth degree felony and, upon conviction, shall be sentenced pursuant to Section 31-18-15 NMSA 1978. Each violation of the provisions of Section 5 of the Mortgage Foreclosure Consultant […]
Section 47-16-1 – Short title.
Chapter 47, Article 16 NMSA 1978 may be cited as the “Homeowner Association Act”. History: Laws 2013, ch. 122, § 1; 2015, ch. 104, § 1. ANNOTATIONS Compiler’s notes. — Laws 2013, ch. 122, §§ 1 through 14 were erroneously compiled as 47-7E-1 through 47-7E-14 NMSA 1978, and have been recompiled as 47-16-1 through 47-16-14 […]
Section 47-16-2 – Definitions.
As used in the Homeowner Association Act: A. “articles of incorporation” means the articles of incorporation, and all amendments thereto, of an association on record in the office of the county clerk in the county or counties in which the association is located; B. “association” means a homeowner association; C. “board” means the body, regardless […]
Section 47-16-3 – Creation of a homeowner association.
An association pursuant to the Homeowner Association Act shall be organized in accordance with the laws of the state and be identified in a recorded declaration. The membership of the association shall consist exclusively of all lot owners in the development. History: Laws 2013, ch. 122, § 3. ANNOTATIONS Effective dates. — Laws 2013, ch. […]
Section 47-16-4 – Recording or filing of homeowner association notice and declaration.
A. An association organized after July 1, 2013 shall record a notice of homeowner association in the office of the county clerk of the county or counties in which the real property affected thereby is situated no later than thirty days after the date on which the association’s declaration is recorded as provided in Section […]
Section 47-16-5 – Record disclosure to members; updated information.
A. All financial and other records of the association shall be made available during regular business hours for examination by a lot owner within ten business days of a written request. B. The association shall not charge a fee for making financial and other records available for review. The association may charge a fee of […]