Skip to content
ClosingCodeClosingCode
ENES

New Mexico · NMSA 1978, §§47-16-11–47-16-13New Mexico HOA disclosure certificate: the seven-day rules and the $300 cap

Under New Mexico's Homeowner Association Act, the seller of a lot in an HOA development – or the seller's agent – gets a disclosure certificate from the association and gives it to the buyer no later than seven days before closing, and the buyer may cancel the purchase contract within seven days after receiving it (NMSA 1978, §47-16-11). Before closing the seller also furnishes the declaration (without plats and plans), the bylaws, the covenants, conditions and restrictions, and the association's rules (§47-16-12(A)). The association delivers the certificate within ten business days after a written request and may charge up to $300 for it, collected at closing only if the deal closes (§47-16-12(B), (H)). The assessment and fee statements in it are valid for 60 days; from day 61 the owner can ask for an update, due within three business days for up to $50 (§47-16-12(G)). The buyer isn't liable for unpaid assessments or fees above the amount in the certificate, prorated to closing (§47-16-12(C)). A buyer who cancels delivers the notice by hand or prepaid mail and gets every payment back within 15 days, without penalty (§47-16-13). The Act doesn't apply to condominiums under the Condominium Act (§47-16-15(C)), and no certificate is needed for court-ordered, government or foreclosure sales (§47-16-12(F)).

The rules

  1. 1. Delivery (§47-16-11(A))

    Certificate to the buyer at least seven days before closing.

  2. 2. Cancellation (§§47-16-11(B), 47-16-13)

    Within seven days after receipt; refund within 15 days.

  3. 3. Association (§47-16-12(B))

    Ten business days after a written request.

  4. 4. Fees (§47-16-12(G)–(H))

    Up to $300, paid at closing if it closes; update after 60 days within three business days, up to $50.

  5. 5. Buyer's cap (§47-16-12(C))

    No liability for unpaid assessments above the certificate amount.

What the certificate states (§47-16-2(M))

  • Any right of first refusal or other restraint on resale.
  • The monthly assessment, unpaid assessments now due and other fees.
  • Approved capital expenditures for this year and the next two, and the reserves.
  • The latest balance sheet and income statement, and the current budget.
  • Unsatisfied judgments and pending suits, insurance, and recorded violations on the lot.
  • The contact person for the association.

What the TC can do

  • Send the written request early – ten business days plus the seven-day delivery rule.
  • Record the date the buyer receives the certificate; the cancellation window runs from it.
  • Check that the assessment figures are less than 60 days old at closing.

Questions about New Mexico HOA resales

When must a New Mexico seller give the buyer the HOA disclosure certificate?

No later than seven days before closing (NMSA 1978, §47-16-11(A)).

How much can a New Mexico HOA charge for a disclosure certificate?

Up to $300, collected at closing only if the transaction closes; an update after 60 days costs up to $50 (NMSA 1978, §47-16-12(G)–(H)).

Related guides

Track the certificate request, the seven-day delivery and the buyer's cancellation window as tasks in ClosingCode.

Start free trial

Source: NMSA 1978, §§47-16-2, 47-16-11, 47-16-12, 47-16-13 and 47-16-15 (nmonesource.com, read October 28, 2026).

General information, not legal advice. ClosingCode is software; it is not a law firm or brokerage. This guide is not a substitute for the advice or services of an attorney.