{"data":{"id":"us-nm/47-7d-9","jurisdiction":"us-nm","citation":"47-7D-9","heading":"Resales of units.","body":"A. Except in the case of a sale where delivery of a disclosure statement is required, or unless exempt under Subsection B of Section 53 [47-7D-1 NMSA 1978] of the Condominium Act, a unit owner shall furnish to a purchaser before conveyance a copy of the declaration, other than the plats and plans, the bylaws, the rules or regulations of the association and a resale certificate from the association containing:\n(1) a statement disclosing the existence and terms of any right of first refusal or other restraint on the free alienability of the unit;\n(2) a statement setting forth the amount of the monthly common expense assessment and any unpaid common expense or special assessment currently due and payable from the selling unit owner;\n(3) a statement of any other fees payable by unit owners;\n(4) a statement of any capital expenditures anticipated by the association for the current and two next succeeding fiscal years;\n(5) a statement of the amount of any reserves for capital expenditures and of any portions of those reserves designated by the association for any specified projects;\n(6) the most recent regularly prepared balance sheet and income and expense statement, if any, of the association;\n(7) the current operating budget of the association;\n(8) a statement of any unsatisfied judgments against the association;\n(9) a statement describing any insurance coverage provided for the benefit of unit owners; and\n(10) a statement of the remaining term of any leasehold estate affecting the condominium and the provisions governing any extension or renewal thereof.\nB. The association, within ten working days after receipt of a request by a unit owner, shall furnish a certificate containing the information necessary to enable the unit owner to comply with this section. A unit owner providing a certificate pursuant to Subsection A of this section is not liable to the purchaser for any erroneous information provided by the association and included in the certificate.\nC. A purchaser is not liable for any unpaid assessment or fee greater than the amount set forth in the certificate prepared by the association. A unit owner is not liable to a purchaser for the failure or delay of the association to provide the certificate in a timely manner, but the purchase contract is voidable by the purchaser until the certificate has been provided and for seven days thereafter or until conveyance, whichever first occurs.","path":["Chapter 47 - Property Law","ARTICLE 7D Condominium Act - Protection of Condominium Purchasers"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18550/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"e0d6df5aab57ee5a314500ef4ae0d6e7d7a6da4d6ea0eafae2c757178809c726","source_id":"us-nm","stale":false,"prev":"us-nm/47-7d-8","next":"us-nm/47-7d-10"},"notice":"GroundRules: Original legal text. Not legal advice."}