Light Restrictions
Register dwelling, remit taxes
Currently, Airbnb is collecting and remitting taxes on behalf of the host.
No current city level tax information.
Judicial
In a judicial foreclosure state, the lender must go through the court system in order to foreclose on a property. This process can be longer and more expensive for the lender compared to a non-judicial foreclosure.
Real estate closings are conducted through escrows. Conveyance is by warranty or quitclaim deed. Deeds of trust and mortgages are the security instruments. Foreclosures require judicial proceedings, and there’s a 9-month redemption period after judgment. New Mexicans use ALTA owner’s policies, lender’s policies, and construction and leasehold policies; they also use endorsements. Buyers and sellers share escrow costs equally; sellers pay the title insurance premiums. There are no documentary, mortgage, or transfer taxes. Property taxes are payable November 5th and April 5th. New Mexico is a community-property state.
Payable November 5th and April 5th
YES. Managing property is expressly considered a real estate activity under existing New Mexico real estate licensing laws, and requires a broker's license. According to the Real Estate Brokers statute, â??Property Managementâ?? is defined as including: the showing, renting and leasing of real property, the collection and disbursement of funds on behalf of other persons, the supervision of employees as specified in the management agreement, the supervision of maintenance and repair work, handling of tenant relations, and/or preparation of financial reports.
YES. For example, employees of the property owner or of qualifying broker, acting on the owner's or broker's behalf with respect to the property, if the acts are performed in the regular course of or incident to the management of the property. For more information about these and other New Mexico property management requirements and exceptions, please contact the New Mexico Real Estate Commission. Before hiring a property manager to manage your New Mexico rental property, you should always check that he or she is licensed appropriately. You can check the license status of New Mexico property managers at the New Mexico Regulation and Licensing Department "Look Up A License" webpage.
There is no requirement that a community association manager or condo association manager in New Mexico hold a real estate broker's license.
Warranty or quitclaim deed.
The Pearl certification can be earned based on a property's performance in the following categories: buidling shell, heating & cooling, baseload, home management, renewable energy and energy storage. There are 4 levels of certification all of which reflect highly on a home's performance, sustainability, and value.
DaSolar's Energy Tax Credit Search Tool allows you to search energy rebates by state.
The Forest Stewareship Council provides user with a search tool to find essential materials and products for those looking to do home renovation based on their location. The FSC works to prohibit deforestation, wildlife habitat, and water quality, tightly restrict the use of hardous chemicals, ensure forests are mananged at sustainable rates of growth and harvesting, protect rare old growth forests and the right of indigenous Peoples. They are the gold standard of forest management and their search tool can be used in the US, Canada, and Mexico.
