Disclosure statement; general provisions
- Statute:
- New Mexico §47-7D-3 · Article CONDO (New Mexico Condominium Act (NMSA 47-7A-1 to 47-7D-20))
- Topic:
- Records & Disclosure · Contents
- Applies to:
- Condo associations
The disclosure statement must name the declarant and the condominium, describe the project and the number of units, include copies of the declaration (other than plats), bylaws, rules, and cancelable contracts, a current or projected budget, insurance, fees, restraints on alienation, escrow information, and the extent of financial arrangements for MUST BE BUILT improvements. A condominium of 25 or fewer units with no development rights may omit listed items. Amend promptly for any material change.
📄 Read the official text at nmonesource.com →
How SoShiny helps with Disclosure statement; general provisions
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-3 require?
- The disclosure statement must name the declarant and the condominium, describe the project and the number of units, include copies of the declaration (other than plats), bylaws, rules, and cancelable contracts, a current or projected budget, insurance, fees, restraints on alienation, escrow information, and the extent of financial arrangements for MUST BE BUILT improvements. A condominium of 25 or fewer units with no development rights may omit listed items. Amend promptly for any material change.
- Who does New Mexico §47-7D-3 apply to?
- New Mexico §47-7D-3 applies to Condo associations in New Mexico.
- What happens if our condo doesn't comply with §47-7D-3?
- 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-3?
- 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 Disclosure statement; general provisions?
- 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-3 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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