In New Mexico, a property manager reports receipts and disbursements to an owner. Which statement is correct?
Correct Answer
D) The qualifying broker must provide owner reports monthly or as agreed, and a final accounting of trust funds within the required time after termination
New Mexico property management rules require owner statements and final accounting. Source basis: 16.61.24 NMAC, Property Management: declaration, education, qualifying broker auspices, trust accounts, agreements, reports, and records; checked 2026-04-30.
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Related Topics & Key Terms
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Related Concepts
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
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