N.M. Stat. § 47-7-12

Current through 2024, ch. 69

Section 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.

NMS § 47-7-12

1953 Comp., § 70-4-11.1, enacted by Laws 1975, ch. 318, § 12.