Property Management
Under the New Mexico Uniform Owner-Resident Relations Act (UORRA), a landlord must provide habitable premises. Which of the following is NOT required for habitability?
AWorking plumbing and heat
BA swimming pool✓ Correct
CWeatherproofing
DFunctioning electrical systems
Explanation
The implied warranty of habitability under UORRA requires essential services like plumbing, heating, electrical systems, and weatherproofing. Amenities like swimming pools are not required for basic habitability.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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