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Current as of January 01, 2024 | Updated by Findlaw Staff
The declaration shall specify a method by which the interest attributable to each unit shall be apportioned. The apportionment may be based upon:
A. the square or cubic footage in the unit as a percentage of the square or cubic footage in all of the units;
B. the value, as that term is defined in the declaration, of the unit as a percentage of the value of all of the units; or
C. the unit itself as a percentage of all of the units in the property. The percentage interest shall change if additional units are added after the filing of the declaration.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 47. Property Law § 47-7-12. Declaration; apportionment of interest - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-47-property-law/nm-st-sect-47-7-12/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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