Requirement for disclosure statement
- Statute:
- New Mexico §47-7D-1 · Article CONDO (New Mexico Condominium Act (NMSA 47-7A-1 to 47-7D-20))
- Topic:
- Records & Disclosure · When disclosure is required
- Applies to:
- Condo associations
The purchaser-protection article applies to residential units subject to this Act. Neither a disclosure statement nor a resale certificate is required for a gratuitous transfer, a court-ordered disposition, a government disposition, foreclosure or deed in lieu, a sale to a dealer who will resell, a freely cancelable disposition, a disposition to a nonresident alien, or a nonresidential unit.
📄 Read the official text at nmonesource.com →
How SoShiny helps with Requirement for disclosure statement
SoShiny gives every owner instant, permissioned access to the official records this statute requires — searchable, audit-logged, and exportable for state inspections. The records survive every board turnover because they live in one place, not in someone's inbox.
See the feature → Start freeFrequently asked
- What does New Mexico §47-7D-1 require?
- The purchaser-protection article applies to residential units subject to this Act. Neither a disclosure statement nor a resale certificate is required for a gratuitous transfer, a court-ordered disposition, a government disposition, foreclosure or deed in lieu, a sale to a dealer who will resell, a freely cancelable disposition, a disposition to a nonresident alien, or a nonresidential unit.
- Who does New Mexico §47-7D-1 apply to?
- New Mexico §47-7D-1 applies to Condo associations in New Mexico.
- What happens if our condo doesn't comply with §47-7D-1?
- 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 §47-7D-1?
- 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 Requirement for disclosure statement?
- SoShiny gives every owner instant, permissioned access to the official records this statute requires — searchable, audit-logged, and exportable for state inspections. The records survive every board turnover because they live in one place, not in someone's inbox. Learn more →
Not legal advice. This page is a plain-English summary of New Mexico §47-7D-1 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 →