Posts Tagged ‘legal topic’

Legal Topic of the Month: Landlord/Tenant Relationships

Wednesday, March 10th, 2010

By Melanie MacGillivray, Shareholder,  The Rubin Katz Law Firm

The New Mexico owner-resident relations act governs interactions between landlords and tenants and is designed to simplify and clarify the rights and obligations of both parties.
The act requires that a landlord provides a written lease agreement to each tenant before the lease term begins.

Since this document can be the most important aspect of the landlord/tenant relationship, having a well-drafted agreement can save a lot of  heartache and financial loss in the long term.

Many landlords prefer to use a pre-printed lease, so make sure that all blank spaces on the form are filled in or marked  “not applicable.”  Also, both parties need to initial any hand-written changes on the form, and the agreement should be carefully reviewed to confirm that it meets the particular circumstances affecting the property.

As a tenant, you should not hesitate to request your landlord to clarify any lease provision, or revise the agreement to meet the specific requirements of  the property.
After the lease term begins, any alterations to the terms of the lease agreement—even verbal ones—should be done so in writing and signed by both parties. Without a written agreement, both parties will be at a disadvantage when the lease term ends.

Some key provisions in a lease agreement include:
•    How much is the rent, when is it due and are there late payment fees?

  • Is the lease on a month to month basis, or for a longer term?
  • Is subleasing permitted?
  • Who is responsible for providing utilities and appliances, as well as paying for repairs?
  • What is the name, address and telephone number of the party responsible for management of  the property?

The law also requires that a landlord comply with housing codes affecting health and safety, as well as make appliance repairs, supply running/hot water and heat and keep the property and the common areas of  the property in a safe condition.

Under the law, a tenant must comply with housing codes affecting health and safety, not disturb neighbors’ peaceful enjoyment of their own property and at the end of  the term, return the premises to the owner in as clean a condition as when the lease began, except for ordinary wear and tear.

As is the case in any legal relationship, disputes can arise, so landlords and tenants need to make sure they are aware of their legal rights and obligations before taking any action.

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Real Property Taxes In New Mexico

Thursday, November 5th, 2009

By Melanie MacGillivray, Shareholder,  The Rubin Katz Law Firm
Real property taxes are typically pro-rated between a buyer and a seller as of the date of closing on the sale of a property.

Since property taxes are based on a calendar year, the closing officer will generally hold—from the seller—a pro-rated    share of the current year’s taxes in advance. The buyer will then be credited with the amount that the seller has paid into closing. When the taxes become due, the buyer will be responsible for the entire bill since he has been credited with the seller’s   pro-rated amount.

Often times, however, the closing officer will collect taxes from the buyer as well, and pay the taxes in advance. It’s very   important that the buyer clearly understand whether this action is being taken by the title company at closing.

If you have a mortgage on your property, your mortgage   company may pay the taxes, however it’s your responsibility to insure that your mortgage company is paying your taxes. And you can always verify whether payment of these taxes has occurred, by calling the county treasurer’s office in the county where your property is located. But remember—regardless of whether, or not you receive a tax bill from the county assessor, you are responsible for payment of the real property taxes assessed against your property.
While it is quite likely that the title company handling your settlement will notify the county assessor of the property transfer, it’s  your responsibility as the buyer, to make sure after closing that    the county assessor is aware of the property transfer and confirm   payment of all taxes when due.

Finally, for information on eligibility for certain tax exemptions available for head of family and qualifying veterans, you should contact the county assessor’s office in the county in which your property is located.

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