Get Nm Residential Property Disclosure And Disclaimer Statement 2020-2025

The state of New Mexico requires sellers to disclose defects in a home to buyers. Albuquerque home sellers are required to provide buyers with a written disclosure of all material defects on the property of which they have knowledge of. This disclosure should be given to the buyer before the contract is signed.

The legal requirements placed upon home sellers with regard to disclosures are laid out in New Mexico Statutes § 47-13 et seq., also known as the Real Estate Disclosure Act. Sellers are expected to provide buyers with a written disclosure of all material defects in their property about which they have actual knowledge.

A New Mexico Property Disclosure Statement is a document completed by the seller of a residential property and given to potential buyers to relay the property condition. New Mexico law dictates that the seller must provide information about any adverse material facts that may affect the property and its value.

The transfer disclosure statement (TDS) evaluates the condition of a property. Every residential seller must complete the TDS document. It will let the buyer know about major defects at the property.

To add further confusion, some non-disclosure states may have counties that are full disclosure. The current list of non-disclosure states includes Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah, and Wyoming.

Common issues that require disclosures include anything that may cause major foundation issues to a property or endanger a prospective buyer or the integrity of the house.

New Mexico Death Disclosure New Mexico does not require disclosure of death on a property. There is no requirement for a seller or homeowner to disclose.

To add further confusion, some non-disclosure states may have counties that are full disclosure. The current list of non-disclosure states includes Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah, and Wyoming.

The current list of non-disclosure states includes Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah, and Wyoming.