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New Mexico Statutes Chapter 47. Property Law § 47-16-11. Contract disclosure statement or disclosure certificate; right of cancellation of purchase contract

Current as of January 01, 2024 | Updated by FindLaw Staff

Except as provided in Section 12 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 development that is subject to an association and the association is subject to the Homeowner Association Act:

A. A seller or the seller's agent shall obtain a disclosure certificate from the association and provide it to the purchaser no later than seven days before closing; and

B. A purchaser or the purchaser's agent has the right to cancel the purchase contract within seven days after receiving the disclosure certificate.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 47. Property Law § 47-16-11. Contract disclosure statement or disclosure certificate; right of cancellation of purchase contract - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-47-property-law/nm-st-sect-47-16-11/

Read this complete New Mexico Statutes Chapter 47. Property Law § 47-16-11. Contract disclosure statement or disclosure certificate; right of cancellation of purchase contract on Westlaw. Westlaw subscription required.

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