Real Estate Law

Have real estate law questions? Ask a real estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Our Homeowners Association (HOA), Rancho Viejo South (RVS)

Customer Question
in Santa Fe, NM, was...
Our Homeowners Association (HOA), Rancho Viejo South (RVS) in Santa Fe, NM, was formed under the Nonprofit Corporation Act of New Mexico around 2003. We have just under 600 homes in our HOA with a budget of about $700 k. We have a history of obtaining a Financial Audit every 2 or 3 years, and we intend to continue that. However, as a member of the RVS Finance Committee, I have often wondered what frequency of audits is required (if any) by the state of New Mexico. I am under the impression that there are no requirements. Is this correct?
Submitted: 1 year ago.Category: Real Estate Law
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 12 minutes by:
6/11/2017
Real Estate Lawyer: Ray, Lawyer replied 1 year ago
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 48,882
Experience: Texas Attorney for 30 years dealing in real estate
Verified

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.

Ask Your Own Real Estate Law Question
Real Estate Lawyer: Ray, Lawyer replied 1 year ago

There are no requirements here under New Mexico law.Every two years is a good standard practice.All the statutory requirements deal with making them public .

Reference see the requirements for financial records and requests.

http://www.nmprc.state.nm.us/consumer-relations/docs/Homeowner%20Association%20Act.pdf

I appreciate the chance to help you tonight.Thanks again.

If you can positive rate 5 stars it is much appreciated.

Ask Your Own Real Estate Law Question
Customer reply replied 1 year ago
It is difficult to prove a negative when it comes to the law. Saying that one can't find the answer is not as strong as finding someone who can give a difinitive answer. Thanks for your help.Paul
Real Estate Lawyer: Ray, Lawyer replied 1 year ago

There is no legal requirement for every two years it is considered a standard practice for HOAS to do it every two years, it protects the board and president and really the members.

Thanks again and thanks for rating 5 stars.

Ask Your Own Real Estate Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a real estate lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Ray Your Own Question
Ray
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 48,882
48,882 Satisfied Customers
Experience: Texas Attorney for 30 years dealing in real estate

Ray is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Barrister

Barrister

Lawyer

12,142 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

8,377 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

48,882 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,208 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,998 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

P. Simmons

P. Simmons

Lawyer

3,572 satisfied customers

12+ yrs. of experience including real estate law.

< Previous | Next >

Related Real Estate Law Questions
I would like to know whats the best way to request an audit
Hi - I would like to know whats the best way to request an audit of my HOA financials … read more
KLAW
KLAW
Juris Doctorate
2,397 satisfied customers
I am the President of our HOA. The Treasurer and I disagree
I am the President of our HOA. The Treasurer and I disagree about the amounts for the proposed budget to be sent prior to our Budget Meeting. Ultimately the budget will be voted upon by the entire Boa… read more
KLAW
KLAW
Juris Doctorate
2,397 satisfied customers
In South Carolina who can vote in HOA meetings for BOD?
In South Carolina who can vote in HOA meetings for BOD? … read more
Ray
Ray
Lawyer
Doctoral Degree
48,882 satisfied customers
Where can I find an reasonably priced HOA attorney for
Where can I find an reasonably priced HOA attorney for prohibiting renting homes in our neighborhood? … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
14,185 satisfied customers
I own my own home an I am being sent letters indicting to me
I own my own home an I am being sent letters indicting to me that fines are going to be imposed on me for making improvements to the exterior of my home by the homeowners association in NYC. I was und… read more
Barrister
Barrister
Lawyer
Doctoral Degree
12,142 satisfied customers
Our HOA Board is allowing a new neighbor to park a huge RV
Our HOA Board is allowing a new neighbor to park a huge RV on their driveway, which obstructs our views from our living room and front door as we are on a small cul de sac. Our CC&Rs state No motor ve… read more
J. Warren
J. Warren
Attorney
Doctoral Degree
2,241 satisfied customers
State of NJ - I am owner in HOA building. When I requested
State of NJ - I am owner in HOA building. When I requested financials I was given a copy based on our By Laws. When I requested a copy of the Delinquency report I was informed that I have to make an a… read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,365 satisfied customers
We live in Colorado Springs in a development with an HOA. Last
We live in Colorado Springs in a development with an HOA. Last year we applied for a variance regarding parking of our RV beside our house. After many emails and meetings, we agreed to an approved pla… read more
CalAttorney2
CalAttorney2
Attorney
Doctoral Degree
8,845 satisfied customers
We moved into our house in 1998. We were told at closing that
We moved into our house in 1998. We were told at closing that there was no HOA. Shortly after moving in we were told that there is a voluntary one. We never joined. We have painted our house and told … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I live in Texas. The management organization created by the
I live in Texas. The management organization created by the developer of the subdivision we bought into last fall was ruled null and void by the court after we purchased our house, having collected fe… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,508 satisfied customers
Hi, This is an HOA type question. We live in a 40+ year old
Hi, This is an HOA type question. We live in a 40+ year old single family community. A lot of our documents are simple and may be out of tune now days. At issue is Canopies ( like the temp popup and c… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
Legal questions related to problems that we are having with
Legal questions related to problems that we are having with our HOA: 1. Does HOA have a legal right to deny a home owner improvement request with the reason of “materials is not to the HOA acceptable … read more
CalAttorney2
CalAttorney2
Attorney
Doctoral Degree
8,845 satisfied customers
Can I sue my Townhouse Association Board in New Hampshire for
Can I sue my Townhouse Association Board in New Hampshire for Negligence if they hired a contractor to repair a fire damaged building and never conducted any oversight? This resulted in our unit being… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
Leslie Esq.- Our HOA signed a contract with the declarant/developer/
Leslie Esq.- Our HOA signed a contract with the declarant/developer/ MCG&CC which says as follows; 1. Monte Cristo Homeowners Association will assume the responsibility of all billing and collection f… read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,365 satisfied customers
Is a Home Owners Association that qualifies as a Residential
Is a Home Owners Association that qualifies as a Residential Real Estate Management Association a Condominium?… read more
BartEsq
BartEsq
Attorney
Doctoral Degree
674 satisfied customers
Do I have the right to see how my dues and special assessment
Do I have the right to see how my dues and special assessment monies are being spent?Like a line item spreadsheet. Or do I just get a copy of the proposed budget?Which just says $100.00 for postage. T… read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,365 satisfied customers
Good Monday afternoon, Our HOAs pool was built in 1976.
Good Monday afternoon, Our HOA's pool was built in 1976. Our rules and regulations state that our pool is a private pool. Members of our association, which consist of 68 homeowners, and their guest, a… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
8,377 satisfied customers
Can individuals of a HOA be held liable if they allow ...
Can individuals of a HOA be held liable if they allow something to happen that both lowers the property values of the community and have done so by voting to allow something that is in strict contradi… read more
Jane Doe Deer's Jobs
Jane Doe Deer's Jobs
Attorney
Post-Doctoral Degree
14 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x