PURCHASE OF SINGLE FAMILY HOMES

SB 77 prohibits hedge funds, private equity firms, corporations, and other businesses from purchasing single-family residential properties in New Mexico. This directly affects institutional investors and large-scale commercial buyers seeking to acquire homes in the residential market. The bill's key provision is a blanket ban on such purchases, creating a legal restriction for these entities. The legislation aims to limit institutional ownership of single-family homes, though it does not address individual homeowners or rental properties.