New Mexico § 47-7-12 Declaration; apportionment of interest

New Mexico Statutes

§ 47-7-12 — Declaration; apportionment of interest

New Mexico § 47-7-12

Ch. 47Property Law

Art. 7Building Unit Ownership

This text of New Mexico § 47-7-12 (Declaration; apportionment of interest) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 47-7-12 (2026).

Text

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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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.