Termination of condominium
- Statute:
- New Mexico §47-7B-18 · Article CONDO (New Mexico Condominium Act (NMSA 47-7A-1 to 47-7D-20))
- Topic:
- Governing Documents · Termination
- Applies to:
- Condo associations
Except for a taking of all units by eminent domain, terminate only by agreement of unit owners to which at least 80 percent of the votes are allocated, or any larger percentage the declaration specifies (smaller only if all units are nonresidential). The termination agreement is executed like a deed and is effective only when recorded. Sale-after-termination mechanics, occupancy rights, and distribution of proceeds follow the rest of this section.
📄 Read the official text at nmonesource.com →
How SoShiny helps with Termination of condominium
SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.
See the feature → Start freeFrequently asked
- What does New Mexico §47-7B-18 require?
- Except for a taking of all units by eminent domain, terminate only by agreement of unit owners to which at least 80 percent of the votes are allocated, or any larger percentage the declaration specifies (smaller only if all units are nonresidential). The termination agreement is executed like a deed and is effective only when recorded. Sale-after-termination mechanics, occupancy rights, and distribution of proceeds follow the rest of this section.
- Who does New Mexico §47-7B-18 apply to?
- New Mexico §47-7B-18 applies to Condo associations in New Mexico.
- What happens if our condo doesn't comply with §47-7B-18?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for New Mexico community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of New Mexico §47-7B-18?
- The official text is published by the New Mexico Legislature at nmonesource.com. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Termination of condominium?
- SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →
Not legal advice. This page is a plain-English summary of New Mexico §47-7B-18 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a New Mexico-licensed attorney. For the official statutory text, see the link above.
Stay current on New Mexico association law.
Get the free quick-reference guide plus a heads-up when the statutes that govern your community change.
Don’t run your condo on spreadsheets.
Start your community free →