2021 New Mexico Statutes
Article 7 - Building Unit Ownership
Section 47-7-25 - Joint and several liability of grantor and grantee for unpaid common expenses.

In a voluntary conveyance the grantee of a unit shall be jointly and severally liable with the grantor for all unpaid assessments against the grantor for his share of the common expenses to the time of grant or conveyance, without prejudice to the grantee's right to recover from the grantor the amounts paid by the grantee. However, any grantee shall be entitled to a statement from the manager or board of directors, setting forth the amount of the unpaid assessments against the grantor and the grantee shall not be liable for, nor shall the unit conveyed by [be] subject to a lien for, any unpaid assessments against the grantor in excess of the amount therein set forth.
History: 1953 Comp., § 70-4-24, enacted by Laws 1963, ch. 221, § 24; 1975, ch. 318, § 25.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments § 37.
Expenses for which condominium association may assess unit owners, 77 A.L.R.3d 1290.
31 C.J.S. Estates § 153 et seq.

Structure 2021 New Mexico Statutes