Sale of lots; disclosure certificate
- Statute:
- New Mexico §47-16-12 · Article HOA (New Mexico Homeowner Association Act (NMSA 47-16-1 to 47-16-18))
- Topic:
- Records & Disclosure · Resale certificate
- Applies to:
- HOA associations
Before closing, a lot owner furnishes the declaration (other than plats), bylaws, CC&Rs, rules, and a disclosure certificate. The association has ten business days after a written request to furnish it. The owner is not liable for the association's erroneous information or delay. The purchaser is not liable for unpaid assessments greater than the prorated amount in the certificate. Assessment and fee statements are valid 60 days; after that a lot owner may request an update (three business days, fee capped at $50), valid another 60 days. The association may charge a reasonable preparation fee not to exceed $300, collected at closing if the transaction closes. Exemptions: court order, government, foreclosure or deed in lieu, and a disposition the purchaser may cancel at any time without penalty.
📄 Read the official text at nmonesource.com →
How SoShiny helps with Sale of lots; disclosure certificate
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 §47-16-12 require?
- Before closing, a lot owner furnishes the declaration (other than plats), bylaws, CC&Rs, rules, and a disclosure certificate. The association has ten business days after a written request to furnish it. The owner is not liable for the association's erroneous information or delay.
- Who does New Mexico §47-16-12 apply to?
- New Mexico §47-16-12 applies to HOA associations in New Mexico.
- What happens if our HOA doesn't comply with §47-16-12?
- 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 §47-16-12?
- 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 Sale of lots; disclosure certificate?
- 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 §47-16-12 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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