There Is a Newer Version
of
the New Mexico Statutes
2011 New Mexico Statutes
Chapter 47: Property Law
Article 7: Building Unit Ownership, 47-7-1 through 47-7-28
Section 47-7-12: Declaration; apportionment of interest.
Universal Citation:
NM Stat § 47-7-12 (1996 through 1st Sess 50th Legis)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
47-7-12. Declaration; apportionment of interest.
The declaration shall specify a method by which the interest attributable to each unit shall be apportioned. The apportionment may be based upon:
A. the square or cubic footage in the unit as a percentage of the square or cubic footage in all of the units;
B. the value, as that term is defined in the declaration, of the unit as a percentage of the value of all of the units; or
C. the unit itself as a percentage of all of the units in the property. The percentage interest shall change if additional units are added after the filing of the declaration.
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