Contract disclosure statement or disclosure certificate; right of cancellation of purchase contract
- Statute:
- New Mexico §47-16-11 · Article HOA (New Mexico Homeowner Association Act (NMSA 47-16-1 to 47-16-18))
- Topic:
- Records & Disclosure · Buyer cancellation
- Applies to:
- HOA associations
Except as provided in §47-16-12, a person selling a lot in an association must provide a written disclosure certificate stating that the lot is in a development subject to an association. The seller or agent obtains the certificate from the association and provides it to the purchaser no later than seven days before closing. The purchaser may cancel the purchase contract within seven days after receiving it.
📄 Read the official text at nmonesource.com →
How SoShiny helps with Contract disclosure statement or disclosure certificate; right of cancellation of purchase contract
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 §47-16-11 require?
- Except as provided in §47-16-12, a person selling a lot in an association must provide a written disclosure certificate stating that the lot is in a development subject to an association. The seller or agent obtains the certificate from the association and provides it to the purchaser no later than seven days before closing. The purchaser may cancel the purchase contract within seven days after receiving it.
- Who does New Mexico §47-16-11 apply to?
- New Mexico §47-16-11 applies to HOA associations in New Mexico.
- What happens if our HOA doesn't comply with §47-16-11?
- 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 §47-16-11?
- 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 Contract disclosure statement or disclosure certificate; right of cancellation of purchase contract?
- 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 §47-16-11 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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