Not legal advice. Verify current state law. These are summaries of general statewide rules from the cited secondary sources, checked October 2026. Laws change, and cities and counties add their own rules. Confirm the current statute, or ask a local attorney, before you act.
| Rule | New Mexico |
|---|---|
| Pay-or-quit (nonpayment) | 3 days to pay[1] |
| Cure-or-quit (lease violation) | 7 days to cure[2] |
| Month-to-month termination (landlord) | 30 days[3] |
| Security deposit limit | 1 month's rent for leases < 1 year (no cap 1 year+ with interest rule)[4] |
| Deposit return deadline | 30 days[5] |
| Late-fee rule | Must be in lease; up to 5% of rent per rental period[6] |
| Wholesaling / assignment rule | No wholesaling-specific statute found; general real estate licensing law still applies (do not market the property itself or act as an agent) (State real estate license act (general))[7] |
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Sources
- Nolo, State Laws on Termination for Nonpayment of Rent (updated 2/05/2026): https://www.nolo.com/landlord-tenant/state-laws-termination-nonpayment-rent.html
- Nolo, State Laws on Termination for Violation of Lease (updated 2/05/2026): https://www.nolo.com/landlord-tenant/state-laws-termination-violation-lease.html
- Nolo, State Rules on Notice Required to Change or Terminate a Month-to-Month Tenancy (updated 1/15/2026): https://www.nolo.com/landlord-tenant/state-rules-on-notice-required-to-change-or-terminate-a-month-to-month-tenancy.html
- Nolo, State Security Deposit Limits (updated 8/21/2026): https://www.nolo.com/landlord-tenant/state-security-deposit-limits.html
- Nolo, State Deadlines for Returning Security Deposits (updated 1/16/2026): https://www.nolo.com/landlord-tenant/state-deadlines-for-returning-security-deposit.html
- Nolo, Late Rent Fees and Other State Rules on Paying Rent (updated 2/05/2026): https://www.nolo.com/landlord-tenant/late-rent-fees-and-other-state-rules-on-paying-rent.html
- FrontPorchOffers, Real Estate Wholesaling Laws by State (2026), checked 9/30/2026 (secondary; cites statutes): https://frontporchoffers.com/research/wholesaler-laws/