summary
Introduced
01/30/2025
01/30/2025
In Committee
Crossed Over
Passed
Dead
03/22/2025
03/22/2025
Introduced Session
2025 Regular Session
Bill Summary
AN ACT RELATING TO PROPERTY; PROHIBITING A HOMEOWNER ASSOCIATION FROM ASSESSING A FEE ON THE SALE OF A LOT OR REAL PROPERTY BY A LOT OWNER IN THE ASSOCIATION'S DEVELOPMENT.
AI Summary
This bill adds a new section to the Homeowner Association Act in New Mexico that prohibits homeowners associations (HOAs) from charging fees when a property owner sells their lot or real property within the association's development. Specifically, the bill prevents HOAs from imposing what are sometimes called "transfer fees" or "resale fees" that property owners would typically have to pay at the time of selling their home or lot. By explicitly stating that an association "shall not assess a fee on the sale of a lot or real property," the legislation aims to reduce additional financial burdens on homeowners during the property sale process. This change would apply to all homeowners associations in New Mexico and represents a consumer-friendly measure designed to make property transactions more straightforward and less expensive for lot owners.
Committee Categories
Business and Industry
Sponsors (5)
Janelle Anyanonu (D)*,
Joanne Ferrary (D)*,
Tara Luján (D),
Cristina Parajón (D),
Angelica Rubio (D),
Last Action
House Commerce & Economic Development Committee (13:30:00 2/10/2025 Room 317) (on 02/10/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=232&year=25 |
| Fiscal Note | https://www.nmlegis.gov/Sessions/25%20Regular/firs/HB0232.PDF |
| BillText | https://www.nmlegis.gov/Sessions/25%20Regular/bills/house/HB0232.pdf |
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