46th legislature - STATE OF NEW MEXICO - first session, 2003

RELATING TO REAL ESTATE; REQUIRING THE SELLER OR AGENTS OF THE SELLER TO DISCLOSE THE PROXIMITY OF THE REAL ESTATE TO AREAS OF AIRPORT OPERATION.

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

Section 1. DISCLOSURE REQUIRED.--

A. A seller or an agent of the seller of real estate within the state is required to disclose to a prospective purchaser of real estate the fact that the prospective real estate is located within three statute miles of the official reference point of an airport or that the property underlies an area of regular aviation activity.

B. As used in this section:

(1) "airport" means an area of land or water designated for the landing and taking off of aircraft, including runways, taxiways, terminals, parking facilities, hanger facilities, maintenance facilities for repair, construction and modification and any other facility related to aircraft or airports and utilized by the public as a point of arrival or departure of regularly scheduled aircraft;

(2) "area of regular aviation activity" means property that is within the traffic pattern airspace as defined by the federal aviation administration and includes property that is underlying a published approach procedure; and

(3) "official reference point" means the midpoint of the designated primary runway.

Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2003.