N.M. Admin. Code § 14.12.1.12 - STANDARD OF CONDUCT
A. Any
dealer, salesperson, or broker who receives any consideration for arranging the
transfer of equity or the assumption of a loan on a manufactured home shall
ascertain whether such manufactured home has a lien or security interest filed
on it with the motor vehicle division of the New Mexico department of taxation
and revenue. Such licensee shall insure that written consent is obtained from
the holder of the lien or security interest, if any, approving the transferee's
assumption of the transferor's obligation to the lien holder within ten (10)
days prior to the effective date of the transfer. For purposes of this
subsection, "assumption of a loan" means any substitution or attempt to
substitute the responsible persons on the contract or agreement of repayment of
amounts owed to a lender and includes "wraparound" agreements.
B. No licensee shall aid or abet an
unlicensed person to evade the provisions of the act or these rules; knowingly
combine or conspire with, or act as an agent, partner, or associate for an
unlicensed person.
C. It is a
violation of the Manufactured Housing Act and these rules to act outside the
scope of or to misrepresent intentionally or unintentionally the scope of any
license issued by the division.
D.
All conditions of a sales contract signed by a dealer or broker and homeowner
must be completed within ninety (90) days from the date of delivery unless
otherwise signed and agreed to by both parties.
E. A copy of a purchase agreement and sales
contract signed by both the licensee and purchaser are to be given to the
purchaser at the time of signing or closing.
F. When a licensed dealer or licensed
manufacture agrees to provide any installation in connection with the sale or
lease of a mobile or manufactured home, the licensed dealer or licensed
manufacture must confirm that the installer or repairman is licensed in
accordance with these rules and the act. Confirmation is a copy of the current
license or verification of licensure printed from the division webpage and must
be retained in the customers file and be available for inspection by the
division.
G. When a licensed dealer
or licensed manufacture agrees to provide any foundation work in connection
with the sale or lease of a mobile or manufactured home, the licensed dealer or
licensed manufacture must confirm that the general building contractor (GB-2,
GB-98, or GS-4) is licensed in accordance with these rules and the act.
Confirmation is a copy of the current license or verification of licensure
printed from the division webpage and must be retained in the customers file
and be available for inspection by the division.
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