INVESTMENT OWNERSHIP OF RESIDENTIAL PROPERTY

SB 114 prohibits hedge funds, private equity firms, corporations, and other businesses from purchasing single-family homes in New Mexico. The bill directly affects these investment entities by restricting their ability to buy residential properties, though it exempts limited liability companies (LLCs) organized under New Mexico's Limited Liability Company Act. Key provisions include a clear ban on such purchases for non-LLC businesses, with the LLC exemption being the only exception specified. The bill focuses on limiting corporate ownership of single-family homes without detailing enforcement mechanisms or other exceptions.