ACEQUIA & WATER RIGHTS AS MATERIAL FACTS

HB 502 requires sellers to disclose acequia rights and water rights as material facts during real estate transactions in New Mexico. This means buyers must be informed about these water-related rights when purchasing property, directly affecting homebuyers, sellers, and real estate professionals. The bill designates these rights as mandatory disclosure items, not changing the rights themselves but ensuring transparency in property sales. The legislation, introduced by several state representatives, would take effect July 1, 2025, though it was postponed indefinitely in June 2025.