Merge Legal New Mexico Subcontractors Forms For Free

The lien must be signed and verified under oath (notarized). Once completed, a lien should be filed and recorded with the county recorder's office in the county where the property is located. You are not required to serve the lien upon the property owner, as filing the lien is considered sufficient notice under NM law.

New Mexico does not take unlicensed contracting lightly. Not only will unlicensed contractors forfeit any of their rights to a mechanics lien, but they'll also face criminal charges. New Mexico's CID website states that contracting without a license in the state is against the law.

Section 57-28-5 - Payments; prompt pay required; withholding prohibited. A. Except as provided in Subsection B of this section, all construction contracts shall provide that payment for amounts due shall be paid within twenty-one days after the owner receives an undisputed request for payment.

Section 50-4-2 - Semimonthly and monthly pay days. A. An employer in this state shall designate regular pay days, not more than sixteen days apart, as days fixed for the payment of wages to all employees paid in this state.

Retainage is prohibited in New Mexico. However, scheduling payments such that there is a line item for a ?closeout payment? after work is substantially performed may be allowed ? this is usually 5% or 10% of the contract value.

The New Mexico Statutes Annotated is the official codification of New Mexico's laws. Session Laws are a collection of the laws passed in a particular legislative session, in the order they were passed. Statutes are laws enacted by legislative bodies.