New Mexico Account Stated for Construction Work
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How to fill out Account Stated For Construction Work?
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FAQ
The Act gives the seller an opportunity to inspect the dwelling and take reasonable measures to determine the nature and cause of each alleged construction defect, and the nature and extent of any repairs needed.
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.
Those founded upon accounts and unwritten contracts; those brought for injuries to property or for the conversion of personal property or for relief upon the ground of fraud, and all other actions not herein otherwise provided for and specified within four years.
Design deficiencies are construction defect claims that arise from issues at the design level. Failing to design the home to code with minimum building and materials standards can lead to failing systems including roofs, doors, windows, foundations, and other structural elements.
In addition to Florida, Alabama, Arizona, Connecticut, Illinois, Iowa, Kansas, Missouri, New Hampshire, New Mexico, Oklahoma, Rhode Island, South Carolina, Tennessee, Texas, Vermont, and West Virginia are Notice States.
Construction defects can result from deficiencies in a product itself, how something is designed, installed, operated or maintained. Damages might be seen immediately (such as a burst water pipe) or appear over time (such as a slowly shifting foundation).
The purchaser shall allow the seller or the seller's construction professional the opportunity to make repairs or replacements of each alleged construction defect.
Summary of New Mexicos's Construction Defect Laws If the builder fails to perform the work as promised in the contract, and/or breaches the duty of care owed to owners, New Mexico permits you to file a lawsuit against the builder for damages.