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New Mexico Timeshare Laws
Please be advised that you should not act upon any of this information without seeking proper legal counsel from an attorney experienced in timeshare law. Roberts Law Group makes no representation or warranty regarding the accuracy, reliability, completeness, or timeliness of any information provided. This information is provided for information only. All information posted here should not be used as a substitute for the advice of an appropriately qualified and licensed lawyer.
Timeshare laws in New Mexico are controlled by the New Mexico Timeshare Act. Under § 47-11-3 timeshares are viewed as a division of real estate, so further regulation is administered by the New Mexico Real Estate Commission.
Right of Timeshare Cancellation in New Mexico
Under New Mexico Statutes 47-11-5, a purchaser has the right to cancel a timeshare within seven days after the timeshare contract is executed. The seller must also provide a statement which discloses the timeshare cancellation policy. The purchaser may submit their request to cancel either in person or by mail. All funds will be reimbursed to the purchaser.
Timeshare Advertising Fraud
Statute 47-11-6 requires that any timeshare promotion or advertisement must meet the terms of the Unfair Practices Act. This act declares that any unfair or deceptive practices and unconscionable trade practices in the conduct of any trade or commerce are unlawful. There are also very strict timeshare laws in regards to telephone solicitation which timeshare resellers must adhere to under Article 12 of the New Mexico Statutes.
Timeshare Sales Laws in New Mexico
Under the Securities Act of New Mexico, it is deemed unlawful for any salesperson to partake in a timeshare sale unless they are properly licensed. If you have been approached to advertise your timeshare for sale, it is recommended to do research on the company that you are potentially working with. As with any legal document, it is also recommended that you have a timeshare attorney review the contract before signing.
For more information on New Mexico timeshare law, please click here.
Contact us at 1-800-242-0532 for assistance. A lawyer experienced in New Mexico timeshare law can provide the representation you need to successfully deal with your unique situation.
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