The declaration shall contain:
A. a description of the land on which the building and improvements are or will be located;
B. a description of the building, stating the number of stories and basements, the number of units and the principal materials of which it is, or will be, constructed;
C. the number of each unit, and a statement of its location, approximate area, number of rooms and immediate common area to which it has access, and any other data necessary for its proper identification;
D. a description of the common areas and facilities;
E. a description of the limited common areas and facilities, stating to which units their use is reserved;
F. the value of the property and of each unit, and the percentage of undivided interest in the common areas and facilities appertaining to each unit and its owner for all purposes including voting. In the case of any building consisting of separate units not substantially sharing any common structural elements, the value of each unit shall be computed on the basis of the square footage contained within its exterior dimensions;
G. a statement of the purposes for which the building and the units are intended and restricted;
H. the name and address of agent for service;
I. a provision as to the percentage of votes by the unit owners which shall be determinative of whether to rebuild, repair, restore or sell the property in the event of damage or destruction;
J. any further details in connection with the property which the person executing the declaration may deem desirable to set forth consistent with the Building Unit Ownership Act; and
K. the method by which the declaration may be amended.
History: 1953 Comp., § 70-4-11, enacted by Laws 1963, ch. 221, § 11; 1971, ch. 148, § 1; 1975, ch. 318, § 11.
ANNOTATIONSFailure to abide by declaration as fraud. — Where, pursuant to this section, builder prepared a "Declaration of Covenants, Conditions, and Restrictions Relative to Carson-Grande Addition," but, in spite of the stipulations set forth therein, builder never constructed a pool, never activated the homeowners association, did not transfer the common areas to the association, and amended the declaration so as to eliminate the planned construction of a pool, there was sufficient evidence to support the trial court's findings of fact and conclusions of law establishing a pattern of commission and omission amounting to fraud. Register v. Roberson Constr. Co., 1987-NMSC-072, 106 N.M. 243, 741 P.2d 1364.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments §§ 14, 15, 33, 57.
31 C.J.S. Estates § 153 et seq.