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Real property

property disclosure statement

A property disclosure statement is a written document provided by a seller of real property to the prospective buyer stating that the property has a material or significant problem or defect and disclosing the nature of the problem or defect—or stating the seller is unaware of any such problems or defects.

In New Mexico, a property disclosure statement is a document that a seller of real property is typically required to provide to a prospective buyer. This statement discloses material or significant problems or defects with the property. New Mexico law mandates that sellers disclose any known defects that could affect the property's value or desirability. The disclosure must be made in good faith and include any known issues with the property's condition, such as structural problems, roof condition, plumbing, electrical systems, and any other material defects. If the seller is unaware of any problems or defects, they must state this in the disclosure. Failure to disclose known defects can lead to legal liability for the seller. It is important for sellers to be thorough and honest in their disclosures to avoid future disputes and for buyers to carefully review these disclosures before proceeding with a property purchase.

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Real property

property disclosure statement

Individual & Family Legal Plan

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Real property

property disclosure statement

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