New Mexico Time Share Act

The act governs the creation, sale, and administration of time-share plans, covering both time-share estates and time-share uses in real property. It requires developers to register their plans with the state real estate commission and to provide purchasers a public offering statement, and it prescribes the contents of the instruments that establish a plan, the arrangements for its management and operation, and the extent of the developer's control period. It also protects purchasers through cancellation rights, escrow and completion assurances, lien protections, and limits on advertising and unfair practices, backed by regulatory supervision, recordkeeping and examination requirements, civil remedies, and penalties.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.