Section 47-6-17 - Disclosure. - New Mexico Statutes

47-6-17. Disclosure.

A.     Prior to selling, leasing or otherwise conveying any land in a subdivision, the subdivider shall disclose in writing such information as the board of county commissioners requires, by regulation, to permit the prospective purchaser, lessee or other person acquiring an interest in subdivided land to make an informed decision about the purchase, lease or other conveyance of the land.   

B.     The disclosure statement for subdivisions with not fewer than five and not more than one hundred parcels shall contain at least the following information:   

(1)     the name of the subdivision;   

(2)     name and address of the subdivider and the name and address of the person in charge of sales or leasing in New Mexico;   

(3)     total acreage of the subdivision, both present and anticipated;   

(4)     size of the largest and smallest parcels offered for sale, lease or other conveyance within the subdivision and the proposed range of selling or leasing prices including financing terms;   

(5)     distance from the nearest town to the subdivision and the route over which this distance is computed;   

(6)     name and address of the person who is recorded as having legal and equitable title to the land offered for sale, lease or other conveyance;   

(7)     a statement of the condition of title including any encumbrances;   

(8)     a statement of all restrictions or reservations of record that subject the subdivided land to any conditions affecting its use or occupancy;   

(9)     name and address of the escrow agent, if any;   

(10)     a statement as to availability and cost of public utilities;   

(11)     a statement describing the maximum annual water requirements of the subdivision, including water for indoor and outdoor domestic uses, and describing the availability of water to meet the maximum annual water requirements;   

(12)     a statement describing the quality of water in the subdivision available for human consumption;   

(13)     a description of the means of liquid waste disposal for the subdivision;   

(14)     a description of the means of solid waste disposal for the subdivision;   

(15)     a description of the means of water delivery within the subdivision;   

(16)     the average depth to water within the subdivision if water is available only from subterranean sources;   

(17)     a description of access to the subdivision;   

(18)     a statement disclosing whether the roads and other improvements within the subdivision will be maintained by the county, the subdivider or an association of lot owners and what measures have been taken to ensure that maintenance will take place;   

(19)     a description of the subdivider's provisions for terrain management;   

(20)     a summary, approved by the issuing state agency, of the opinions, if any, whether favorable or adverse, provided by state agencies to the board of county commissioners concerning any one of the points listed above;   

(21)     a statement that the subdivider shall record the deed, real estate contract, lease or other instrument conveying an interest in subdivided land with the appropriate county clerk within thirty days of the signing of such instrument by the purchaser, lessee or other person acquiring an interest in the land;   

(22)     a statement advising the purchaser, lessee or other person acquiring an interest in subdivided land that building permits, wastewater permits or other use permits are required to be issued by state or county officials before improvements are constructed; and that further, he is advised to investigate the availability of such permits before purchase, lease or other conveyance and whether these are requirements for construction of additional improvements before he may occupy the property; and   

(23)     such other information as the board of county commissioners may require.   

C.     The disclosure statement for subdivisions with one hundred or more parcels shall contain all of the information required in Subsection B of this section as well as the following information:   

(1)     a statement of any activities or conditions adjacent to or nearby the subdivision that would subject the subdivided land to any unusual conditions affecting its use or occupancy;   

(2)     a description of all recreational facilities, actual and proposed, in the subdivision;   

(3)     a statement as to the availability of:   

(a)     fire protection;   

(b)     police protection;   

(c)     public schools for the inhabitants of the subdivision, including a statement concerning the proximity of the nearest elementary and secondary schools;   

(d)     hospital facilities;   

(e)     shopping facilities; and   

(f)     public transportation; and   

(4)     a statement setting forth the projected dates upon which any of the items mentioned in this section for which the subdivider has responsibility will be completed if they are not yet completed.   

D.     Disclosure statements shall be in the form that the board of county commissioners, after consultation with the attorney general, may require by regulation.  The board of county commissioners may require by regulation that disclosure statements be printed in both English and Spanish.  The form of disclosure statements, insofar as possible, shall be uniform for all counties.   

E.     Any subdivider who has satisfied the disclosure requirement of the Interstate Land Sales Full Disclosure Act [15 U.S.C. 1701 et seq.] may submit his approved statement of record in lieu of the disclosure statement required by the New Mexico Subdivision Act [this article]. However, any information required in the New Mexico Subdivision Act and not covered in the subdivider's statement of record shall be attached to the statement of record.   

F.     It is unlawful to sell, lease or otherwise convey land in a subdivision until:   

(1)     the required disclosure statement has been filed with the county clerk, the board of county commissioners and the attorney general's office; and   

(2)     the prospective purchaser, lessee or other person acquiring an interest in the subdivided land has been given a copy of the disclosure statement.