Albuquerque New Mexico Seller's Disclosure of Forfeiture Rights for Contract for Deed

State:
New Mexico
City:
Albuquerque
Control #:
NM-00470-22
Format:
Word; 
Rich Text
Instant download

Description

This Disclosure Notice of Forfeiture Rights form is provided by the Seller to the Purchaser at the time of the contract signing. Mandatory use of this form is rarely required; however, this form provides the Purchaser with a good understanding of forfeiture and how he or she can be affected by it in the event of a default. Should the courts become involved, the use of this form will help the Seller show that the Purchaser understood his side of the bargain and may help the Purchaser pursue the remedy of forfeiture if challenged by the Purchaser.

How to fill out New Mexico Seller's Disclosure Of Forfeiture Rights For Contract For Deed?

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FAQ

If the buyer asks, do you have to disclose if someone died in a house? Regardless of which state you live in, if the buyer asks whether a death has occurred in the home, you are legally required to tell them the truth or risk legal repercussions.

Along with the application form, an applicant must submit certificates of completion of commission-approved 30 hour pre-licensing courses in real estate principles and practice, real estate law, and broker basics, equaling 90 prelicensure education hours.

If you have a criminal record, you may still be eligible to get a real estate license in New Mexico. It would be difficult to do so if you've been convicted of certain felonies?and especially if the offense occurred within the last three years. However, the Commission considers criminal records on a case-to-case basis.

This is the case in New Mexico, which is a strict non-disclosure state, meaning information about a property can only be given to the registered owner of the property.

But in Arizona, disclosing a death at a home is not required. According to Arizona Revised Statutes 32-2156, a real estate agent ? or any seller ? doesn't have to disclose that a property was the site of a natural death, suicide, homicide or any other crime classified as a felony.

New Mexico does not require disclosure of death on a property. There is no requirement for a seller or homeowner to disclose.

In order to apply for the New Mexico Real Estate License Exam, the state requires you to complete 90 hours of New Mexico Real Estate Commission-approved real estate courses. Kaplan offers four education options that fulfill the 90-hour requirement.

The Department may not issue a license to a person who has been convicted of a felony, or convicted of a misdemeanor offense, such as (but not limited to) theft, forgery, extortion, conspiracy to defraud, violence against another person, or crimes of moral turpitude.

Can A Felon Get A Real Estate License In Texas? Criminal offenses don't automatically disqualify you from having a real estate license in Texas. Applicants are evaluated on a case-by-case basis to determine whether they're fit to become a license holder.

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Albuquerque New Mexico Seller's Disclosure of Forfeiture Rights for Contract for Deed