We found no statewide reserve study mandate in the New Mexico Condominium Act or the Homeowner Association Act. Both acts require reserve amounts to be disclosed to buyers, and homeowner association records open to lot owners include amounts held in reserve.
Last verified October 12, 2026 by ReservePath research.
| Reserve study required | No statewide requirement found |
|---|---|
| Applies to | Not applicable |
| How often | No interval set by statute |
| Site inspection required | No statewide rule found |
We found no statewide reserve study requirement in the New Mexico Condominium Act (NMSA 1978, 47-7A-1 to 47-7D-20) or the Homeowner Association Act (NMSA 1978, 47-16-1 to 47-16-18). (see sources)
We found no statewide rule on this in the statutes listed under Sources.
We found no statewide rule on this in the statutes listed under Sources.
We found no minimum reserve funding level in either act. A condominium association may adopt budgets for revenues, expenditures and reserves [NMSA 1978, 47-7C-2(A)(2)]. In a homeowner association, the board or the lot owners must adopt a budget each year and give a copy to all lot owners within 30 calendar days after adoption [NMSA 1978, 47-16-7(E)]. (see sources)
For a lot sale in a homeowner association, the disclosure certificate includes a statement of the amount of any reserves for capital expenditures and any portions designated for approved projects [NMSA 1978, 47-16-2(M) and 47-16-12]. Association records open to lot owners include amounts held in reserve [NMSA 1978, 47-16-5(C)(8)]. For condominiums, the developer's disclosure statement budget must state the amount included as a reserve for repairs and replacement, or that there is none [NMSA 1978, 47-7D-3(A)(5)], and a resale certificate must state the amount of any reserves for capital expenditures [NMSA 1978, 47-7D-9(A)(5)]. (see sources)
We found no statewide rule on this in the statutes listed under Sources.
ReservePath supports full studies, updates with a site visit and updates without one, 30-year funding projections, and study renewal reminders based on the cycle you set for each study. It includes in-app compliance guidance for each state as a starting point. The preparer and the association's attorney remain responsible for confirming what the law requires.
We found no statewide reserve study requirement in the New Mexico Condominium Act (NMSA 1978, 47-7A-1 to 47-7D-20) or the Homeowner Association Act (NMSA 1978, 47-16-1 to 47-16-18).
We found no minimum reserve funding level in either act. A condominium association may adopt budgets for revenues, expenditures and reserves [NMSA 1978, 47-7C-2(A)(2)]. In a homeowner association, the board or the lot owners must adopt a budget each year and give a copy to all lot owners within 30 calendar days after adoption [NMSA 1978, 47-16-7(E)].
For a lot sale in a homeowner association, the disclosure certificate includes a statement of the amount of any reserves for capital expenditures and any portions designated for approved projects [NMSA 1978, 47-16-2(M) and 47-16-12]. Association records open to lot owners include amounts held in reserve [NMSA 1978, 47-16-5(C)(8)]. For condominiums, the developer's disclosure statement budget must state the amount included as a reserve for repairs and replacement, or that there is none [NMSA 1978, 47-7D-3(A)(5)], and a resale certificate must state the amount of any reserves for capital expenditures [NMSA 1978, 47-7D-9(A)(5)].
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