Allocation of common element interests; votes; common expense liabilities
- Statute:
- New Mexico §47-7B-7 · Article CONDO (New Mexico Condominium Act (NMSA 47-7A-1 to 47-7D-20))
- Topic:
- Ownership · Allocated interests
- Applies to:
- Condo associations
The declaration allocates to each unit a fraction or percentage of the common elements and common expenses and a portion of the votes, and states the formulas. Allocations may not discriminate in favor of declarant-owned units. Common elements are not subject to partition; a transfer of the undivided interest without the unit is void. Except for rounding, the interests must sum to one (or 100 percent).
📄 Read the official text at nmonesource.com →
How SoShiny helps with Allocation of common element interests; votes; common expense liabilities
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-7 require?
- The declaration allocates to each unit a fraction or percentage of the common elements and common expenses and a portion of the votes, and states the formulas. Allocations may not discriminate in favor of declarant-owned units. Common elements are not subject to partition; a transfer of the undivided interest without the unit is void.
- Who does New Mexico §47-7B-7 apply to?
- New Mexico §47-7B-7 applies to Condo associations in New Mexico.
- What happens if our condo doesn't comply with §47-7B-7?
- 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-7?
- 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 Allocation of common element interests; votes; common expense liabilities?
- 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-7 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.
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