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47-8-3 NMSA 1978

Citation
47-8-3 NMSA 1978
Jurisdiction
New Mexico (state)
Source
Official source

Full Text

1,775 chars
I. “fair rental value" is that value that is comparable to the value established in the
market place;

J. “good faith" means honesty in fact in the conduct of the transaction concerned as
evidenced by all surrounding circumstances;

K. “normal wear and tear" means deterioration that occurs based upon the use for
which the rental unit is intended, without negligence, carelessness, accident, abuse or
intentional damage of the premises, equipment or chattels of the owner by the residents
or by any other person in the dwelling unit or on the premises with the resident's
consent; however, uncleanliness does not constitute normal wear and tear;

L. “organization" includes a corporation, government, governmental subdivision or
agency thereof, business trust, estate, trust, partnership or association, two or more
persons having a joint or common interest or any other legal or commercial entity;

M. “owner" means one or more persons, jointly or severally, in whom is vested:

(1) all or part of the legal title to property, but shall not include the limited
partner in an association regulated pursuant to the Uniform Limited Partnership Act
[repealed]; or

(2) all or part of the beneficial ownership and a right to present use and
enjoyment of the premises and agents thereof and includes a mortgagee in possession
and the lessors, but shall not include a person or persons, jointly or severally, who as
owner leases the entire premises to a lessee of vacant land for apartment use;

N. “person" includes an individual, corporation, entity or organization;

O. “premises" means facilities, facilities and appurtenances, areas and other
facilities held out for use of the resident or whose use is promised to the resident
coincidental with occupancy of a dwelling unit;