HOUSE BILL 440

57th legislature - STATE OF NEW MEXICO - first session, 2025

INTRODUCED BY

Tara L. Lujan and Antonio Maestas

 

 

 

 

 

AN ACT

RELATING TO PROPERTY; RESTRICTING HOMEOWNERS ASSOCIATIONS FROM FORECLOSING ON LIENS THAT ARE LESS THAN TWELVE MONTHS DELINQUENT, LESS THAN FIVE THOUSAND DOLLARS ($5,000) OR FOR ASSESSMENTS CONSISTING SOLELY OF FINES.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. Section 47-16-6 NMSA 1978 (being Laws 2013, Chapter 122, Section 6) is amended to read:

     "47-16-6. DUTIES OF A HOMEOWNER ASSOCIATION.--

          A. The association shall exercise any powers conferred to the association in the community documents.

          B. The association shall have a lien on a lot for [any] an assessment levied against that lot or for fines imposed against that lot's owner from the time the assessment or fine becomes due. If an assessment is payable in installments, the full amount of the assessment shall be a lien from the time the first installment becomes due. The association's lien may be foreclosed in like manner as a mortgage on real estate; provided that an association may not foreclose on a lien that is:

                (1) less than twelve months delinquent;

                (2) in an amount of less than five thousand dollars ($5,000); or

                (3) for assessments consisting solely of fines.

          C. Recording the declaration constitutes notice recorded in the office of the county clerk in the county or counties in which any part of the real property is located and perfection of the lien.

          D. Upon written request by a lot owner, the association shall furnish a recordable statement setting forth the amount of unpaid assessments against the lot owner's lot. The statement shall be furnished within ten business days after receipt of the request and is binding on the association and the board."

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