New Mexico
New Mexico HOA and Condo Disclosure Certificate: Fees, Deadlines, and How to Order
A disclosure certificate is the document a title company asks for before a New Mexico closing. New Mexico associations must deliver it within 10 business days. The fee is capped at $300 where the statute sets a cap.
Free for the resale platform. No contract to sign.
New Mexico Disclosure Certificate
Example Mesa Condominium Association
Regular assessment
$285.00 monthly
Buyer's review period
7 days by statute
Fee for this document
$300, the New Mexico cap
Due to the requester
Within 10 business days
New Mexico at a glance
- What New Mexico calls it
- Disclosure Certificate
- Fee cap
- $300 where the statute sets one
- Delivery deadline
- 10 business days
- Buyer's right to cancel
- 7 days after receiving it
Also called: resale certificate, HOA resale certificate. If you were told to get a New Mexico resale certificate, or an NM resale certificate as closing agents write it, for a home in an HOA or a condominium, this is that document. It has nothing to do with the sales tax resale certificate a retailer files with the state.
What each New Mexico act sets
New Mexico has 2 sets of rules, and which one applies depends on how the community was created. Havn asks once which act governs a community, then applies that act's limits to every order.
NMSA 47-7D-9
Condominium Act. Applies to condominiums.
- Required by statute
- Yes
- Fee
- No fixed dollar cap
- Deadline
- 10 business days from the request
- Buyer may cancel within
- 7 days
NMSA 47-16-11
Homeowner Association Act. Applies to HOAs and planned communities.
- Required by statute
- Yes
- Fee
- $300
- Deadline
- 10 business days from the request
- When the fee is paid
- Collected at the close of escrow
- Good for
- 60 days
- Buyer may cancel within
- 7 days
New Mexico HOA laws on resale documents, in plain words
Each entry links to the official text. Read the statute itself before relying on a summary.
NMSA 47-7A (Condominium Act)
The Condominium Act, compiled across NMSA 47-7A through 47-7D, is New Mexico's condominium statute and applies to condominiums created in the state after the act took effect in 1982, with older condominiums remaining under the prior Building Unit Ownership Act unless they elect to come under this act. It covers how a condominium is created, altered and terminated, the powers and management of the unit owners' association, assessments and association records, and purchaser protections including the disclosure statement given on original sales and the resale certificate given on later resales.
NMSA 47-7D-9 (Resales of units)
Unless the sale requires a disclosure statement or is exempt under 47-7D-1, a unit owner furnishes the purchaser before conveyance the declaration (without plats and plans), the bylaws, the rules, and a resale certificate from the association with ten items: restraints on alienability, the monthly common expense assessment and any unpaid common or special assessment due from the seller, other fees, capital expenditures anticipated for the current and next two fiscal years, reserves and their designated portions, the most recent balance sheet and income and expense statement, the current operating budget, unsatisfied judgments, insurance for the benefit of unit owners, and any leasehold term. The association furnishes the certificate within 10 working days after receipt of the unit owner's request; no fee is stated. The purchaser is not liable for any unpaid assessment or fee beyond the amount set forth; the seller is not liable for the association's errors or delay, but the purchase contract is voidable by the purchaser until the certificate is provided and for 7 days thereafter, or until conveyance, whichever comes first.
NMSA 47-16 (Homeowner Association Act)
The Homeowner Association Act governs homeowner associations for planned communities of lots, other than condominiums governed by the Condominium Act, and applies to associations created and existing in New Mexico as of the act's 2013 effective date, with a few provisions exempting smaller associations formed earlier. It covers how an association is created and recorded, board and officer duties and budgeting, meetings and voting, record disclosure to members, covenant enforcement and dispute resolution, and the disclosure certificate a lot owner must give a buyer.
NMSA 47-16-11 (Disclosure certificate; right to cancel)
A person selling a lot subject to an association must disclose in writing that the lot is within a development subject to an association. Where the association is subject to the Homeowner Association Act, the seller or the seller's agent obtains the disclosure certificate from the association and provides it to the purchaser no later than 7 days before closing, and the purchaser or the purchaser's agent may cancel the purchase contract within 7 days after receiving it.
NMSA 47-16-12 (Sale of lots; disclosure certificate)
Before closing a lot owner furnishes the purchaser the declaration (without plats and plans), the bylaws, the covenants, conditions, and restrictions, the rules, and a disclosure certificate from the association; within 10 business days after receipt of a written request from the lot owner or the owner's representative the association furnishes the certificate. The purchaser is not liable for any unpaid assessment or fee greater than the amount, prorated to the date of closing, set forth in the certificate; the seller is not liable for the association's errors or delay; the certificate is current as of the date the association furnishes it. Dispositions by court order, by a government, by foreclosure or deed in lieu, or freely cancellable by the purchaser are exempt. The assessment and fee statements are valid for 60 days, after which the owner may request an update, furnished within 3 business days for a fee not exceeding $50 and valid another 60 days. Since 2019 the association may charge no more than $300 for preparing the certificate, collected at the time of closing and only if the transaction closes.
NMSA 47-16-2 (Disclosure certificate contents)
The Homeowner Association Act's definitions, including the twelve items a disclosure certificate must contain: any right of first refusal or other restraint on alienability; the monthly common expense assessment and any unpaid common expense or special assessment due from the selling owner; other fees payable by lot owners; capital expenditures anticipated and board-approved for the current and next two fiscal years; reserves and the portions designated for approved projects; the most recent balance sheet and income and expense statement; the current operating budget; unsatisfied judgments and pending suits material to the association of which it has actual knowledge; insurance coverage for the benefit of lot owners and the board; whether the association's records reflect alterations or improvements to the lot that violate the declaration; the remaining term of any leasehold estate; and the association's contact person and contact information.
The notice Havn prints on every New Mexico disclosure certificate
Every New Mexico document Havn prepares carries a notice that tells the reader where the document comes from and what New Mexico law says about it. This is the wording, act by act.
NMSA 47-7D-9Condominiums
This certificate, which Section 47-7D-9 of the New Mexico Condominium Act calls a resale certificate, is furnished by the association under NMSA 1978, Section 47-7D-9 within ten working days after the association receives the unit owner's request. Before conveyance, the unit owner furnishes the purchaser with the declaration of the association other than the plats and plans, the bylaws of the association, the rules or regulations of the association, and this certificate. A purchaser is not liable for any unpaid assessment or fee greater than the amount set forth in this certificate. A unit owner providing this certificate is not liable to the purchaser for any erroneous information provided by the association and included in it, nor for the failure or delay of the association to provide it in a timely manner. The purchase contract is voidable by the purchaser until this certificate has been provided and for seven days after it is provided, or until conveyance, whichever first occurs. Section 47-7D-9 does not apply to a sale for which delivery of a disclosure statement is required, or to a disposition exempt under Subsection B of Section 47-7D-1. The information in this certificate is current as of its issue date.
NMSA 47-16-11HOAs and planned communities
This disclosure certificate is furnished by the association under NMSA 1978, Section 47-16-12. The association furnishes it within ten business days after it receives a written request from the lot owner or the lot owner's representative. Before closing, the lot owner furnishes the purchaser with the declaration of the association other than the plats and plans, the bylaws of the association, the covenants, conditions and restrictions applicable to the lot, the rules of the association, and this certificate. Under Section 47-16-11, the seller or the seller's agent must provide this certificate to the purchaser no later than seven days before closing, and the purchaser or the purchaser's agent has the right to cancel the purchase contract within seven days after receiving it. A purchaser is not liable for any unpaid assessment or fee greater than the amount, prorated to the date of closing, set forth in this certificate. A lot owner providing this certificate is not liable to the purchaser for any erroneous information provided by the association and included in it, nor for the association's failure or delay in providing it. The information in this certificate is current as of the date the association furnished it to the lot owner. The statements of assessments and other fees are valid for sixty days from their creation, after which the lot owner may request updated statements. The association furnishes updated statements within three business days for a fee not exceeding $50.00, and those statements are valid for sixty days from the update. The association's charge for preparing this certificate does not exceed $300.00 and is collected at the time of closing, provided that the transaction closes. No disclosure certificate is required for a disposition pursuant to court order, a disposition by a government or governmental agency, a disposition by foreclosure or deed in lieu of foreclosure, or a sale the purchaser may cancel at any time without penalty.
New Mexico disclosure certificate: common questions
What is a New Mexico disclosure certificate?
It is what New Mexico law has the association provide when a home in condominiums and HOAs and planned communities is sold: a statement of what the home owes and of the association's finances, insurance, and rules, under NMSA 47-7D-9 and NMSA 47-16-11.
How much does a New Mexico disclosure certificate cost?
New Mexico caps the fee at $300 where the statute sets one. Inside the cap, the association or its management company sets the price.
How long does a New Mexico association have to provide a disclosure certificate?
10 business days, counted from the request.
Is a disclosure certificate required in New Mexico?
Yes, for condominiums and HOAs and planned communities, under NMSA 47-7D-9 and NMSA 47-16-11.
Can a buyer cancel after receiving a New Mexico disclosure certificate?
Yes. The buyer has 7 days after receiving it to cancel the purchase contract.
Who pays for the disclosure certificate in New Mexico?
Whoever orders it pays the association's fee, usually the seller or the closing agent on the seller's behalf, and the purchase contract can move the cost to the buyer. In New Mexico the fee is collected at the close of escrow.
What is included in a New Mexico disclosure certificate?
What the home owes the association, the fees due at closing, the budget and reserves, the insurance the association carries, pending lawsuits, and the governing documents. The full list is in NMSA 47-16-11.
How do I get a disclosure certificate in New Mexico?
Ask the association, or its management company if it has one. Many take the request through an online order page and deliver by email. Once asked, a New Mexico association has 10 business days. A buyer should ask the seller or the closing agent to order it.
Is this the same as a New Mexico sales tax resale certificate?
No. A sales tax resale certificate is a form a retailer gives a supplier so it can buy goods without paying sales tax. It shares a name and nothing else. This page is about the HOA document used when a home is sold.
How New Mexico compares with its neighbors
Management companies that work across state lines meet a different rule on each side. New Mexico: $300 where the statute sets one, 10 business days.
Arizona
Resale Disclosure Report
$400
10 days
Required by statute
Texas
Resale Certificate
$375
10 days
Required by statute
Colorado
Status Letter
No fixed dollar cap
14 days
Required by statute
See all 51 jurisdictions on the map, compare every state in the fee and deadline table, or read about lender questionnaires, estoppel letters, and demand letters.
Your next New Mexico disclosure certificate could write itself.
The resale platform is free for the association. The requester pays for the document, never more than New Mexico's $300 cap. No contract to sign.