§ 47-7D-20 NMSA 1978

In case of a sale of a unit where delivery of a disclosure statement is required, a contract of sale may be executed, but no interest in that unit may be conveyed until the declaration is recorded and the unit is substantially completed, as evidenced by a recorded certificate of substantial completion pursuant to Section 13 [ 47-7B-1 NMSA 1978] of the Condominium Act.