If a purchaser elects to cancel a purchase pursuant to Section 11 [47-16-11 NMSA 1978] of the Homeowner Association Act, the purchaser may do so by hand delivering notice of the cancellation to the lot owner or by mailing notice of cancellation, by prepaid United States mail, to the lot owner, or to the lot owner's agent for service of process. Cancellation shall be without penalty, and all payments made by the purchaser before cancellation shall be refunded within fifteen days.
History: Laws 2013, ch. 122, § 13.
Effective dates. — Laws 2013, ch. 122, § 16 provided that the Homeowner Association Act was effective July 1, 2013.
Compiler's notes. — Laws 2013, ch. 122, §§ 1 through 14 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.
Structure 2021 New Mexico Statutes
Article 16 - Homeowner Association
Section 47-16-1 - Short title.
Section 47-16-2 - Definitions.
Section 47-16-3 - Creation of a homeowner association.
Section 47-16-4 - Recording or filing of homeowner association notice and declaration.
Section 47-16-5 - Record disclosure to members; updated information.
Section 47-16-6 - Duties of a homeowner association.
Section 47-16-7 - Board members and officers; duties; budget.
Section 47-16-8 - Declarant control of board.
Section 47-16-8.1 - Removal of board members.
Section 47-16-9 - Proxy and absentee voting; ballot counting.
Section 47-16-10 - Financial audit.
Section 47-16-12 - Sale of lots; disclosure certificate.
Section 47-16-13 - Purchaser's cancellation of a purchase contract.
Section 47-16-14 - Attorney fees and costs.
Section 47-16-15 - Applicability.
Section 47-16-17 - Meetings of association.
Section 47-16-18 - Enforcement of covenants; dispute resolution.