Section 47-7B-5 - Contents of declaration. - New Mexico Statutes

47-7B-5. Contents of declaration.

A.     The declaration for a condominium shall contain:   

(1)     the names of the condominium, which shall include the word "condominium" or be followed by the words "a condominium," and the association;   

(2)     the name of every county in which any part of the condominium is situated;   

(3)     a description, legally sufficient for conveyance, of the real estate included in the condominium;   

(4)     a statement of the maximum number of units which the declarant reserves the right to create;   

(5)     a description of the boundaries of each unit created by the declaration, including the unit's identifying number;   

(6)     a description of any limited common elements, other than those specified in Subsections B, D and E of Section 47-7B-2 NMSA 1978, as provided in Section 47-7B-9 NMSA 1978;   

(7)     a description of any real estate, except real estate subject to development rights, which may be allocated subsequently as limited common elements, other than limited common elements specified in Subsections B, D and E of Section 47-7B-2 NMSA 1978, together with a statement that they may be so allocated;   

(8)     a description of any development rights and other special declarant rights reserved by the declarant, together with a legally sufficient description of the real estate to which each of those rights applies, and a time limit within which each of those rights must be exercised;   

(9)     if any development right may be exercised with respect to different parcels of real estate at different times, a statement to that effect together with either a statement fixing the boundaries of those portions and regulating the order in which those portions may be subjected to the exercise of each development right, or a statement that no assurances are made in those regards, and a statement as to whether, if any development right is exercised in any portion of the real estate subject to that development right, that development right must be exercised in all or in any other portion of the remainder of that real estate;   

(10)     any other conditions or limitations under which the rights described in Paragraph (8) of this subsection shall be exercised or they shall lapse;   

(11)     an allocation to each unit of the allocated interests in the manner described in Section 47-7B-7 NMSA 1978;   

(12)     any restrictions on use, occupancy and alienation of the units; and   

(13)     all matters required by Sections 47-7B-6 through 47-7B-9, 47-7B-15, 47-7B-16 and Subsection D of Section 47-7C-3 NMSA 1978.   

B.     The declaration may contain any other matters the declarant deems appropriate.