Summary:

 House Bill 462 (HB 462) increases the notice period for nonpayment of rent.  

Legislation Overview:

 House Bill 462 (HB 462) amends Section 47-8-1 NMSA 1978, increasing the notice period for nonpayment of rent as follows:

If rent is unpaid when due and the resident fails to pay rent within ten days after written notice from the owner of nonpayment and the owner's intention to terminate the rental agreement, the owner may terminate the rental agreement and the resident must immediately deliver possession of the dwelling unit, provided that payment of the full amount due prior to the expiration of the ten-day notice bars an action for nonpayment of rent.






 

Current Law:

 
Current law states that the owner may terminate the rental agreement after a three-day notice, rather than ten days.