Brochures, publications and advertising of any form relating to subdivided land shall:
A. not misrepresent or contain false or misleading statements of fact;
B. not describe deeds, title insurance or other items included in a transaction as "free," and shall not state that any lot or parcel is "free" or given as an "award" or "prize" if any consideration is required for any reason;
C. not describe lots or parcels available for "closing costs only" or similar terms unless all such costs are accurately and completely itemized or when additional lots must be purchased at a higher price;
D. not include an asterisk or other reference symbol as a means of contradicting or substantially changing any statement;
E. disclose that individual lots or parcels are not identifiable when such is the case;
F. if illustrations of the subdivision are used, accurately portray the subdivision in its present state, and if illustrations are used portraying points of interest outside the subdivision, state the actual road miles from the subdivision;
G. not contain artists' conceptions of the subdivision or any facilities within it unless clearly described as such, and shall not contain maps unless accurately drawn to scale and the scale indicated;
H. not contain references to any facilities, points of interest or municipalities located outside the subdivision unless the distances from the subdivision are stated in the advertisement in actual road miles.
History: 1953 Comp., § 70-3-5, enacted by Laws 1963, ch. 217, § 5.
ANNOTATIONSCross references. — For Real Estate Disclosure Act, see 47-13-1 NMSA 1978 et seq.
Law reviews. — For note, "Subdivision Planning Through Water Regulation in New Mexico," see 12 Nat. Res. J. 286 (1972).
For note, "Need for a Federal Policy in Indian Economic Development," see 2 N.M.L. Rev. 71 (1972).
Am. Jur. 2d, A.L.R. and C.J.S. references. — 12 Am. Jur. 2d Brokers § 20.
Validity, construction and application of statutes or ordinances directed against false or fraudulent statements in advertisements, 89 A.L.R. 1004.
35 C.J.S. False Pretenses § 30.