Statutes > New Mexico Statutes > Chapter 47 - Property Law. > Article 7D - Condominium Act - Protection of Condominium Purchasers, 47-7D-1 through 47-7D-20. > Section 47-7D-20 - Substantial completion of units.

Section 47-7D-20 - Substantial completion of units.

47-7D-20. Substantial completion of units.

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.