If any improvement contemplated in a condominium is labeled "NEED NOT BE BUILT" on a plat or plan or is to be located within a portion of the condominium with respect to which the declarant has reserved a development right, no promotional material shall be displayed or delivered to prospective purchasers which describes or portrays that improvement unless the description or portrayal of the improvement in the promotional material is conspicuously labeled or identified as "NEED NOT BE BUILT."
History: Laws 1982, ch. 27, § 66.
ANNOTATIONSCompiler's notes. — This section is substantially similar to § 4-118 of the Uniform Condominium Act.
COMMISSIONERS' COMMENT
1. Section 2-109(c) [47-7B-9C NMSA 1978] requires that the plats and plans for every condominium indicate whether or not any improvement that might be built in the condominium must be built. However, § 4-103 [47-7D-3 NMSA 1978] does not require that copies of the plats and plans be provided to purchasers as part of the public offering statement. Consequently, this section requiring the labeling of improvements depicted on promotional material is necessary to assure that purchasers are not deceived with respect to which improvements the declarant is obligated to make in a particular condominium project.
2. Since no contemplated improvements on real estate subject to development rights need be shown on plats and plans, additional labeling is required by this section to insure that, if the declarant shows any contemplated improvements in his promotional material which are not shown on the plats and plans, those improvements must also be appropriately labeled.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Condominiums and Cooperative Apartments §§ 22, 28.
31 C.J.S. Estates § 153 et seq.