New Mexico 2025 Regular Session

New Mexico House Bill HB426 Compare Versions

Only one version of the bill is available at this time.

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28	28	HOUSE BILL 426
29	29	57
30	30	TH LEGISLATURE
31	31	-
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33	33	STATE
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35	35	OF
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39	39	MEXICO
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41	41	-
42	42	FIRST SESSION
43	43	,
44	44
45	45	2025
46	46	INTRODUCED BY
47	47	Cristina Parajón and Marian Matthews and Antonio Maestas
48	48	and Andrea Romero and Sarah Silva
49	49	AN ACT
50	50	RELATING TO PROPERTY; ENACTING A NEW SECTION OF THE MOBILE HOME
51	51	PARK ACT TO REQUIRE NOTICE BEFORE THE SALE OF A MOBILE HOME
52	52	PARK; CREATING AN OPPORTUNITY TO PURCHASE.
53	53	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
54	54	SECTION 1. A new section of the Mobile Home Park Act is
55	55	enacted to read:
56	56	"[NEW MATERIAL] SALE OF A MOBILE HOME PARK--NOTICE
57	57	REQUIREMENTS--OPPORTUNITY TO PURCHASE.--
58	58	A. All notices pursuant to this section shall:
59	59	(1) be in writing;
60	60	(2) be sent by first-class certified mail with
61	61	tracking and return receipt requested;
62	62	(3) be posted on the front door of each
63	63	resident household in the mobile home park;
64	64	.229527.4 underscored material = new
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91	91	(4) include the material terms, conditions and
92	92	amount of the offer; and
93	93	(5) include notice of the residents' rights as
94	94	provided in this section.
95	95	B. Before a mobile home park may be sold, the owner
96	96	shall notify each resident household of the mobile home park
97	97	and the executive director of the New Mexico mortgage finance
98	98	authority of any bona fide offer for a sale that the owner
99	99	intends to accept.
100	100	C. The residents shall have the opportunity to
101	101	purchase the mobile home park before the owner can accept the
102	102	bona fide third-party offer to purchase if at least fifty-one
103	103	percent of the residents:
104	104	(1) submit to the owner documentation to
105	105	verify that the residents have approved the purchase of the
106	106	mobile home park, including a proposed purchase and sale
107	107	agreement on substantially equivalent terms and conditions of
108	108	the bona fide third-party offer, within ninety days of receipt
109	109	of notice of the offer sent to residents;
110	110	(2) obtain a binding commitment for any
111	111	necessary financing or guarantees within an additional ninety
112	112	days after execution of the purchase and sale agreement; and
113	113	(3) close on the purchase within an additional
114	114	ninety days after the end of the ninety-day period provided in
115	115	Paragraph (2) of this subsection.
116	116	.229527.4
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144	144	D. An owner shall not refuse to enter into or delay
145	145	the execution or closing on a purchase and sale agreement with
146	146	residents who have made a bona fide offer to meet the price and
147	147	substantially equivalent terms and conditions of the third-
148	148	party offer. A failure by the residents to submit a purchase
149	149	and sale agreement within the first ninety-day period, to
150	150	obtain a binding commitment for financing within the second
151	151	ninety-day period or to close on the purchase within the third
152	152	ninety-day period shall terminate the residents' opportunity to
153	153	purchase. The residents and the owner may extend any of the
154	154	time periods provided in this section by agreement.
155	155	E. If the residents submit a proposed purchase and
156	156	sale agreement that the owner does not consider to be
157	157	substantially equivalent in price or in the terms and
158	158	conditions of the third-party offer, the owner shall negotiate
159	159	with the residents in good faith to determine if an agreement
160	160	can be made that would allow the residents to purchase the
161	161	mobile home park. The duty of good faith includes a duty to
162	162	make the same information available to residents that the owner
163	163	has provided or would have provided to the third-party offeror
164	164	or another prospective purchaser. If the owner rejects the
165	165	residents' proposed purchase agreement, the owner must provide
166	166	a good faith reason in writing to the residents within three
167	167	days of the date of rejection. It shall be presumptive
168	168	evidence of bad faith if an owner attempts to, or does, require
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197	197	the residents to waive any of their rights.
198	198	F. Nothing in this section shall be construed to
199	199	require an owner to provide financing to residents, except to
200	200	the extent that financing would be provided to the third-party
201	201	offeror. The residents who have the opportunity to purchase
202	202	the mobile home park as provided in this section may assign
203	203	that opportunity to purchase.
204	204	G. The opportunity to purchase created in this
205	205	section shall inure to the residents beginning on the date that
206	206	notice was received by the residents. Any new offer to sell or
207	207	purchase the mobile home park shall initiate a new effective
208	208	period for the opportunity to purchase. No opportunity to
209	209	purchase shall interfere with a government taking by eminent
210	210	domain or negotiated purchase.
211	211	H. An owner who has accepted a bona fide purchase
212	212	and sale agreement shall record an affidavit with the county
213	213	clerk of any county where the mobile home park is located
214	214	certifying compliance with the requirements of this section.
215	215	The affidavit shall include copies of the certified mail
216	216	receipts for the notice required by this section. A recorded
217	217	affidavit shall be presumptive evidence of compliance with this
218	218	section and shall attach to the deed. A failure to record an
219	219	affidavit shall be presumptive evidence of noncompliance with
220	220	this section.
221	221	I. If the residents have submitted a proposed
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250	250	purchase and sale agreement that is substantially equivalent in
251	251	its terms and conditions to an offer made by a bona fide third
252	252	party to an owner, the residents may record an affidavit with
253	253	the county clerk of any county where the mobile home park is
254	254	located certifying that an offer has been made to the owner by
255	255	the residents.
256	256	J. The provisions of this section shall apply to
257	257	all counties and municipalities, including home rule
258	258	municipalities.
259	259	K. An owner who sells a mobile home park and who
260	260	has not complied with the provisions of this section shall be
261	261	liable to the residents who possessed the opportunity to
262	262	purchase. The liability of the owner shall be in the amount of
263	263	one hundred thousand dollars ($100,000) or twenty percent of
264	264	the appraised value of the mobile home park, whichever is
265	265	greater. The liability owed to the residents by the owner
266	266	shall be a lien on the property and shall take priority over a
267	267	third-party buyer's interest. For the purposes of this
268	268	subsection, residents who possessed the opportunity to purchase
269	269	shall select a real estate appraiser licensed pursuant to the
270	270	Real Estate Appraisers Act and the owner shall be liable for
271	271	the reasonable cost of the appraisal.
272	272	L. An action to enforce the provisions of this
273	273	section may be brought by:
274	274	(1) the attorney general;
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303	303	(2) a resident or residents who possess the
304	304	opportunity to purchase; or
305	305	(3) a person who has been assigned the
306	306	opportunity to purchase.
307	307	M. Residents who prevail in an action brought to
308	308	enforce this section shall be entitled to receive reasonable
309	309	attorney fees and court costs from the owner."
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