reglab/housing_qa huggingface dataset:
NM Stat § 47-7C-10 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7C - Condominium Act - Management of Condominium|Section 47-7C-10 - Voting; proxies.

A. If only one of the multiple owners of a unit is present at a meeting of the association, he is entitled to cast all the votes allocated to that unit. If more than one of the multiple owners are present, the votes allocated to that unit may be cast only in accordance with the agreement of a majority in interest of the multiple owners, unless the declaration expressly provides otherwise. There is a majority agreement if any one of the multiple owners casts the votes allocated to that unit without protest being made promptly to the person presiding over the meeting by any of the other owners of the unit. B. Votes allocated to a unit may be cast pursuant to a proxy duly executed by a unit owner. If a unit is owned by more than one person, each owner of the unit may vote or register protest to the casting of votes by the other owners of the unit through a duly executed proxy. A unit owner may not revoke a proxy given pursuant to this section except by actual notice of revocation to the person presiding over a meeting of the association. A proxy is void if it is not dated or purports to be revocable without notice. A proxy terminates one year after its date, unless it specifies a shorter term. C. If the declaration requires that votes on specified matters affecting the condominium be cast by lessees rather than unit owners of leased units: (1) the provisions of Subsections A and B of this section apply to lessees as if they were unit owners; (2) unit owners who have leased their units to other persons may not cast votes on those specified matters; and (3) lessees are entitled to notice of meetings, access to records and other rights respecting those matters as if they were unit owners. Unit owners shall also be given notice, in the manner provided in Section 41 [47-7C-8 NMSA 1978] of the Condominium Act, of all meetings at which lessees may be entitled to vote. D. No votes allocated to a unit owned by the association may be cast. History: Laws 1982, ch. 27, § 43. ANNOTATIONSCompiler's notes. — This section is substantially similar to § 3-110 of the Uniform Condominium Act. COMMISSIONERS' COMMENT Subsection (c) [Subsection C] addresses an increasingly important matter in the governance of condominiums: the role of tenants occupying units owned by investors or other persons. Most present statutes require voting by owners in the association. However, it may be desirable to give lessees, rather than lessors, of units the right to vote on issues involving day-to-day operation both because the lessees may have a greater interest than the lessors and because it is desirable to have lessees feel they are an integral part of the condominium community. Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments §§ 14, 16. 31 C.J.S. Estates § 153 et seq.
NM Stat § 47-7C-14 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7C - Condominium Act - Management of Condominium|Section 47-7C-14 - Surplus funds.

Unless otherwise provided in the declaration, any surplus funds of the association remaining after payment of or provision for common expenses and any prepayment of reserves shall be paid to the unit owners in proportion to their common expense liabilities or credited to them to reduce their future common expense assessments. History: Laws 1982, ch. 27, § 47. ANNOTATIONSCompiler's notes. — This section is substantially similar to § 3-114 of the Uniform Condominium Act. COMMISSIONERS' COMMENT Surplus funds of the association are generally used first for the pre-payment of reserves, and remaining funds are thereafter credited to the account of unit owners or paid to them. In some cases, however, unit owners might prefer that surplus funds be used for other purposes (e.g., the purchase of recreational equipment). Accordingly, this section permits the declaration to specify any other use of surplus funds. Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments §§ 35, 36. 31 C.J.S. Estates § 153 et seq.
NM Stat § 47-7C-18 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7C - Condominium Act - Management of Condominium|Section 47-7C-18 - Association records.

The association shall keep financial records sufficiently detailed to enable the association to comply with Section 61 [47-7D-9 NMSA 1978] of the Condominium Act. All financial and other records shall be made reasonably available for examination by any unit owner and his authorized agents. History: Laws 1982, ch. 27, § 51. ANNOTATIONSCompiler's notes. — This section is substantially similar to § 3-118 of the Uniform Condominium Act. Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments §§ 14, 16, 22, 29. 31 C.J.S. Estates § 153 et seq.
NM Stat § 47-7C-19 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7C - Condominium Act - Management of Condominium|Section 47-7C-19 - Association as trustee.

With respect to a third person dealing with the association in the association's capacity as a trustee, the existence of trust powers and their proper exercise by the association may be assumed without inquiry. A third person is not bound to inquire whether the association has power to act as trustee or is properly exercising trust powers. A third person, without actual knowledge that the association is exceeding or improperly exercising its powers, is fully protected in dealing with the association as if it possessed and properly exercised the powers it purports to exercise. A third person is not bound to assure the proper application of trust assets paid or delivered to the association in its capacity as trustee. History: Laws 1982, ch. 27, § 52. ANNOTATIONSCompiler's notes. — This section is substantially similar to § 3-119 of the Uniform Condominium Act. COMMISSIONERS' COMMENT Based on § 7 of the Uniform Trustees' Powers Act, this section is intended to protect an innocent third party in its dealings with the association only when the association is acting as a trustee for the unit owners, either under § 3-113 [47-7C-13 NMSA 1978] for insurance proceeds, or § 2-118 [47-7B-18 NMSA 1978] following termination. Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments § 28. 31 C.J.S. Estates § 153 et seq.
NM Stat § 47-7D-5 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7D - Condominium Act - Protection of Condominium Purchasers|Section 47-7D-5 - Time shares.

If the declaration provides that ownership or occupancy of any units is or may be in time shares, the disclosure statement shall disclose, in addition to the information required by Section 55 [47-7D-3 NMSA 1978] of the Condominium Act: A. a description of the time share interest that may be created; B. the number and identity of units in which time shares may be created; C. the total number of time shares that may be created; D. the minimum duration of any time shares that may be created; and E. the extent to which the creation of time shares will or may affect the enforceability of the association's lien for assessments provided in Section 49 [47-7C-16 NMSA 1978] of the Condominium Act. History: Laws 1982, ch. 27, § 57. ANNOTATIONSCompiler's notes. — This section is similar to § 4-105 of the Uniform Condominium Act, with the following main exceptions: "disclosure" is substituted for "public offering" in the introductory paragraph of this section of the state Condominium Act; and Subsection A of this section of the state Condominium Act is added. COMMISSIONERS' COMMENT 1. Time sharing has become increasingly important in recent years, particularly with respect to resort condominiums. In recognition of this fact, this section requires the disclosure of certain information with respect to time sharing. 2. Virtually all existing state condominium statutes are silent with respect to time-share ownership. The inclusion of disclosure provisions for certain forms of time sharing in this act, however, does not imply that other law regulating time sharing is affected in any way in a state merely because that state enacts this act. The Uniform Law Commissioners' Model Real Estate Time-Share Act specifies more extensive disclosures for time-share properties. A "time-share property" may include part or all of the condominium, and § 1-109 of the model act governs conflicts between this act and time-share legislation. Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments §§ 14, 16, 22. Regulation of time-share or interval ownership interests in real estate, 6 A.L.R.4th 1288. 31 C.J.S. Estates § 153 et seq.
NM Stat § 47-7D-7 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7D - Condominium Act - Protection of Condominium Purchasers|Section 47-7D-7 - Condominium securities.

If an interest in a condominium is currently registered with the securities and exchange commission of the United States, a declarant satisfies all requirements relating to the preparation of a disclosure statement of the Condominium Act if he delivers to the purchaser a copy of the prospectus approved by the securities and exchange commission. History: Laws 1982, ch. 27, § 59. ANNOTATIONSCompiler's notes. — This section is similar to § 4-107 of the Uniform Condominium Act, with the following main exceptions: "disclosure" is substituted for "public offering" and "prospectus approved by" is substituted for "public offering statement filed with"; neither the bracketed language in the first sentence, nor the bracketed second sentence of § 4-107 of the Uniform Condominium Act, are incorporated in this section of the state Condominium Act. COMMISSIONERS' COMMENT 1. Some condominiums are regarded as "investment contracts" or other "securities"under federal law because they exhibit certain investment features such as mandatory rental pools. See SEC Securities Act Release No. 5347 (January 1973). The purpose of this section is to permit the declarant to file or deliver, in lieu of a public offering statement specifically prepared to comply with the provisions of this act, the prospectus filed with and distributed pursuant to the regulations of the United States securities and exchange commission. Absent this provision, prospective purchasers of condominiums classified by the SEC as "securities" would have to be given two public offering statements, one prepared pursuant to this act and the other prepared pursuant to the Securities Act of 1933 [15 U.S.C. § 77a et seq.]. Not only would this result increase the declarant's costs (and thus the price) of units, it might also reduce the likelihood of either public offering statement actually being read by prospective purchasers. 2. The bracketed language in the first sentence of this section should be inserted by states which choose to adopt the agency provisions of Article 5 [not adopted] of the act. The second sentence should also be inserted by states opting to incorporate Article 5 [not adopted] of the act to avoid duplicative regulation of condominiums by the agency administering the state's securities regulation statutes. Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments §§ 11, 19 to 21; 69 Am. Jur. 2d Securities Regulation - Federal § 138 et seq. 31 C.J.S. Estates § 153 et seq.; 79A C.J.S. Securities Regulation § 10 et seq.
NM Stat § 47-7D-17 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7D - Condominium Act - Protection of Condominium Purchasers|Section 47-7D-17 - Effect of violations on rights of action; attorney's fees.

If a declarant or any other person subject to the Condominium Act fails to comply with any provision of that act or any provision of the declaration or bylaws, any person or class of persons adversely affected by the failure to comply has a claim for appropriate relief. The court, in an appropriate case, may award reasonable attorney's fees. History: Laws 1982, ch. 27, § 65. ANNOTATIONSCompiler's notes. — This section is similar to § 4-117 of the Uniform Condominium Act, with the following main exception: this section of the state Condominium Act deletes "Punitive damages may be awarded for a willful failure to comply with this Act," as it appears following the first sentence of § 4-117 of the Uniform Condominium Act. COMMISSIONERS' COMMENT This section provides a general cause of action or claim for relief for failure to comply with the act by either a declarant or any other person subject to the act's provisions. Such persons might include unit owners, persons exercising a declarant's rights of appointment pursuant to § 3-103(d) [47-7C-3D NMSA 1978] or the association itself. A claim for appropriate relief might include damages, injunctive relief, specific performance, rescission or reconveyance if appropriate under the law of the state or any other remedy normally available under state law. The section specifically refers to "any person or class of persons" to indicate that any relief available under the state class action statute would be available in circumstances where a failure to comply with this act has occurred. This section specifically permits punitive damages to be awarded in the case of willful failure to comply with the act and also permits attorney's fees to be awarded in the discretion of the court to any party that prevails in an action. Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments § 26. 31 C.J.S. Estates § 153 et seq.
NM Stat § 47-7D-18 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7D - Condominium Act - Protection of Condominium Purchasers|Section 47-7D-18 - Labeling of promotional material.

If any improvement contemplated in a condominium is labeled "NEED NOT BE BUILT" on a plat or plan or is to be located within a portion of the condominium with respect to which the declarant has reserved a development right, no promotional material shall be displayed or delivered to prospective purchasers which describes or portrays that improvement unless the description or portrayal of the improvement in the promotional material is conspicuously labeled or identified as "NEED NOT BE BUILT." History: Laws 1982, ch. 27, § 66. ANNOTATIONSCompiler's notes. — This section is substantially similar to § 4-118 of the Uniform Condominium Act. COMMISSIONERS' COMMENT 1. Section 2-109(c) [47-7B-9C NMSA 1978] requires that the plats and plans for every condominium indicate whether or not any improvement that might be built in the condominium must be built. However, § 4-103 [47-7D-3 NMSA 1978] does not require that copies of the plats and plans be provided to purchasers as part of the public offering statement. Consequently, this section requiring the labeling of improvements depicted on promotional material is necessary to assure that purchasers are not deceived with respect to which improvements the declarant is obligated to make in a particular condominium project. 2. Since no contemplated improvements on real estate subject to development rights need be shown on plats and plans, additional labeling is required by this section to insure that, if the declarant shows any contemplated improvements in his promotional material which are not shown on the plats and plans, those improvements must also be appropriately labeled. Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments §§ 22, 28. 31 C.J.S. Estates § 153 et seq.
NM Stat § 47-7D-19 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7D - Condominium Act - Protection of Condominium Purchasers|Section 47-7D-19 - Declarant's obligation to complete and restore.

A. The declarant shall complete all improvements labeled "MUST BE BUILT" on plats or plans prepared pursuant to Section 21 [47-7B-9 NMSA 1978] of the Condominium Act. B. The declarant is subject to liability for the prompt repair and restoration, to a condition compatible with the remainder of the condominium, of any portion of the condominium affected by the exercise of rights reserved pursuant to or created by Sections 22, 23, 24, 25, 27 and 28 [47-7B-10 to 47-7B-13, 47-7B-15, 47-7B-16 NMSA 1978] of the Condominium Act. History: Laws 1982, ch. 27, § 67. ANNOTATIONSCompiler's notes. — This section is substantially similar to § 4-119 of the Uniform Condominium Act. COMMISSIONERS' COMMENT 1. Subsection (a) [Subsection A] requires the declarant to complete any improvement which the plats or plans indicate, pursuant to the requirements of § 2-109(c) [47-7B-9C NMSA 1978], "MUST BE BUILT." This is a fundamental obligation of the declarant and is one with which a successor declarant is obligated to comply under § 3-104 [47-7C-4 NMSA 1978]. 2. Under subsection (b) [Subsection B], in the event that a declarant exercises the right to use an easement which is created by § 2-116 [47-7B-16 NMSA 1978], or in the event the declarant maintains model units or signs on the condominium, the declarant is obligated to restore the portions of the condominiums used to a condition compatible with the remainder of the condominium. Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments §§ 14, 15, 26, 29, 34. 31 C.J.S. Estates § 153 et seq.
NM Stat § 47-7D-20 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7D - Condominium Act - Protection of Condominium Purchasers|Section 47-7D-20 - Substantial completion of units.

In case of a sale of a unit where delivery of a disclosure statement is required, a contract of sale may be executed, but no interest in that unit may be conveyed until the declaration is recorded and the unit is substantially completed, as evidenced by a recorded certificate of substantial completion pursuant to Section 13 [47-7B-1 NMSA 1978] of the Condominium Act. History: Laws 1982, ch. 27, § 68. ANNOTATIONSCompiler's notes. — This section is similar to § 4-120 of the Uniform Condominium Act, with the following main exceptions: "disclosure" is substituted for "public offering"; the bracketed language "[except pursuant to Section 5-103(b)]" is deleted following "may be conveyed"; and "pursuant to Section 13 of the Condominium Act" is substituted for "executed by an independent [registered] architect, surveyor or engineer, or by issuance of a certificate of occupancy authorized by law." COMMISSIONERS' COMMENT The purpose of this section, complemented by § 4-110 [47-7D-10 NMSA 1978], is to assure that the declarant is not able to obtain use of the purchaser's money until the purchaser is able to get a completed unit. Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments §§ 14, 15, 22. 31 C.J.S. Estates § 153 et seq.
NM Stat § 47-7E-1 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7E - Homeowner Association (Recompiled.)|Section 47-7E-1 - Recompiled.

History: Laws 2013, ch. 122, § 1; recompiled as § 47-16-1 NMSA 1978.ANNOTATIONSCompiler's notes. — Laws 2013, ch. 122, §§ 1 through 14, the Homeowner Association Act, effective July 1, 2013, were erroneously compiled as 47-7E-1 through 47-7E-14 NMSA 1978, and have been recompiled as 47-16-1 through 47-16-14 NMSA 1978 by the compiler.
NM Stat § 47-7E-2 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7E - Homeowner Association (Recompiled.)|Section 47-7E-2 - Recompiled.

History: Laws 2013, ch. 122, § 2; recompiled as § 47-16-2 NMSA 1978.ANNOTATIONSCompiler's notes. — Laws 2013, ch. 122, §§ 1 through 14, the Homeowner Association Act, effective July 1, 2013, were erroneously compiled as 47-7E-1 through 47-7E-14 NMSA 1978, and have been recompiled as 47-16-1 through 47-16-14 NMSA 1978 by the compiler.
NM Stat § 47-7E-3 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7E - Homeowner Association (Recompiled.)|Section 47-7E-3 - Recompiled.

History: Laws 2013, ch. 122, § 3; recompiled as § 47-16-3 NMSA 1978.ANNOTATIONSCompiler's notes. — Laws 2013, ch. 122, §§ 1 through 14, the Homeowner Association Act, effective July 1, 2013, were erroneously compiled as 47-7E-1 through 47-7E-14 NMSA 1978, and have been recompiled as 47-16-1 through 47-16-14 NMSA 1978 by the compiler.
NM Stat § 47-7E-4 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7E - Homeowner Association (Recompiled.)|Section 47-7E-4 - Recompiled.

History: Laws 2013, ch. 122, § 4; recompiled as § 47-16-4 NMSA 1978.ANNOTATIONSCompiler's notes. — Laws 2013, ch. 122, §§ 1 through 14, the Homeowner Association Act, effective July 1, 2013, were erroneously compiled as 47-7E-1 through 47-7E-14 NMSA 1978, and have been recompiled as 47-16-1 through 47-16-14 NMSA 1978 by the compiler.
NM Stat § 47-7E-5 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7E - Homeowner Association (Recompiled.)|Section 47-7E-5 - Recompiled.

History: Laws 2013, ch. 122, § 5; recompiled as § 47-16-5 NMSA 1978.ANNOTATIONSCompiler's notes. — Laws 2013, ch. 122, §§ 1 through 14, the Homeowner Association Act, effective July 1, 2013, were erroneously compiled as 47-7E-1 through 47-7E-14 NMSA 1978, and have been recompiled as 47-16-1 through 47-16-14 NMSA 1978 by the compiler.
NM Stat § 47-7E-6 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7E - Homeowner Association (Recompiled.)|Section 47-7E-6 - Recompiled.

History: Laws 2013, ch. 122, § 6; recompiled as § 47-16-6 NMSA 1978.ANNOTATIONSCompiler's notes. — Laws 2013, ch. 122, §§ 1 through 14, the Homeowner Association Act, effective July 1, 2013, were erroneously compiled as 47-7E-1 through 47-7E-14 NMSA 1978, and have been recompiled as 47-16-1 through 47-16-14 NMSA 1978 by the compiler.
NM Stat § 47-7E-7 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7E - Homeowner Association (Recompiled.)|Section 47-7E-7 - Recompiled.

History: Laws 2013, ch. 122, § 7; recompiled as § 47-16-7 NMSA 1978.ANNOTATIONSCompiler's notes. — Laws 2013, ch. 122, §§ 1 through 14, the Homeowner Association Act, effective July 1, 2013, were erroneously compiled as 47-7E-1 through 47-7E-14 NMSA 1978, and have been recompiled as 47-16-1 through 47-16-14 NMSA 1978 by the compiler.
NM Stat § 47-7E-8 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7E - Homeowner Association (Recompiled.)|Section 47-7E-8 - Recompiled.

History: Laws 2013, ch. 122, § 8; recompiled as § 47-16-8 NMSA 1978.ANNOTATIONSCompiler's notes. — Laws 2013, ch. 122, §§ 1 through 14, the Homeowner Association Act, effective July 1, 2013, were erroneously compiled as 47-7E-1 through 47-7E-14 NMSA 1978, and have been recompiled as 47-16-1 through 47-16-14 NMSA 1978 by the compiler.
NM Stat § 47-7E-9 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7E - Homeowner Association (Recompiled.)|Section 47-7E-9 - Recompiled.

History: Laws 2013, ch. 122, § 9; recompiled as § 47-16-9 NMSA 1978.ANNOTATIONSCompiler's notes. — Laws 2013, ch. 122, §§ 1 through 14, the Homeowner Association Act, effective July 1, 2013, were erroneously compiled as 47-7E-1 through 47-7E-14 NMSA 1978, and have been recompiled as 47-16-1 through 47-16-14 NMSA 1978 by the compiler.
NM Stat § 47-7E-10 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7E - Homeowner Association (Recompiled.)|Section 47-7E-10 - Recompiled.

History: Laws 2013, ch. 122, § 10; recompiled as § 47-16-10 NMSA 1978.ANNOTATIONSCompiler's notes. — Laws 2013, ch. 122, §§ 1 through 14, the Homeowner Association Act, effective July 1, 2013, were erroneously compiled as 47-7E-1 through 47-7E-14 NMSA 1978, and have been recompiled as 47-16-1 through 47-16-14 NMSA 1978 by the compiler.
NM Stat § 47-7E-11 (2021)
2021 New Mexico Statutes|Chapter 47 - Property Law|Article 7E - Homeowner Association (Recompiled.)|Section 47-7E-11 - Recompiled.

History: Laws 2013, ch. 122, § 11; recompiled as § 47-16-11 NMSA 1978.ANNOTATIONSCompiler's notes. — Laws 2013, ch. 122, §§ 1 through 14, the Homeowner Association Act, effective July 1, 2013, were erroneously compiled as 47-7E-1 through 47-7E-14 NMSA 1978, and have been recompiled as 47-16-1 through 47-16-14 NMSA 1978 by the compiler.