HOA Liens and Foreclosure in New Mexico
Whether a homeowners or condo association can foreclose on its lien for unpaid dues in New Mexico, and the limits.
Short answer: Yes. A homeowner association has a lien on a lot for assessments and for fines from the time they become due, and the lien may be foreclosed in the same way as a mortgage. Recording the declaration perfects the lien. NMSA 1978, § 47-16-6 (Homeowner Association Act); § 47-7C-16 (Condominium Act)
| HOA liens and foreclosure | Yes. A homeowner association has a lien on a lot for assessments and for fines from the time they become due, and the lien may be foreclosed in the same way as a mortgage. Recording the declaration perfects the lien. A condominium association has a similar lien on a unit for assessments and fines that may be foreclosed like a mortgage, but the lien is extinguished unless enforcement proceedings begin within three years after the full assessment becomes due. On written request, either type of association must give the owner a statement of unpaid assessments within ten business days. |
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More New Mexico foreclosure & homeowner law
- How Foreclosure Works in New Mexico
- Redemption and Deficiency Judgments in New Mexico
- Getting Your Home Back After a Tax Sale in New Mexico
- All New Mexico foreclosure & homeowner law rules
FAQ
Can an HOA foreclose on your home in New Mexico?
Yes. A homeowner association has a lien on a lot for assessments and for fines from the time they become due, and the lien may be foreclosed in the same way as a mortgage. Recording the declaration perfects the lien. A condominium association has a similar lien on a unit for assessments and fines that may be foreclosed like a mortgage, but the lien is extinguished unless enforcement proceedings begin within three years after the full assessment becomes due. On written request, either type of association must give the owner a statement of unpaid assessments within ten business days.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.