The short answer
No wholesale-disclosure statute. Assignment is contract law — which means your contract has to say it is assignable. Below is the plain-English version of the rules Wise Revival operates under in New Mexico — assignment, disclosure, licensing, and marketing — taken from the statute material reviewed through our legal gate.
Assignment: what the law allows
- No New Mexico statute governs assignment of a purchase contract by a principal buyer or requires a wholesale disclosure (Mike legal gate; NMSA ch. 47 and ch. 61, art. 29 reviewed).
- A purchase contract is assignable unless the contract prohibits it or assignment materially changes the seller's bargain — so the contract itself should say, in plain terms, that the buyer may assign.
Disclosure and licensing requirements
- There is no New Mexico wholesale-disclosure duty for a principal buyer assigning their own contract.
- The broker definition (NMSA §61-29-2) turns on acting for another for compensation; §61-29-2(C)(1) expressly carves out a person dealing with property they own.
Marketing: where operators get in trouble
- Stay principal-side: your contract, your right to assign written into it. The line in New Mexico is the same as most states — the moment you act for another person, for compensation, you are in broker territory.
- Ignore the online tracker claiming a 2024 'Senate Bill 379' license law for New Mexico wholesaling — our gate could not verify it in any New Mexico legislative source and treats it as false. This is why copied 50-state tables are dangerous.
The New Mexico operator checklist
- Contract that says, in plain terms, that the buyer may assign.
- Act as principal on your own contract — never for another, for compensation.
- Do not rely on copied 50-state law tables; verify against New Mexico sources.
Source: NMSA §§61-29-1, 61-29-2 — Mike legal gate for Wise Revival's New Mexico build, 2026-10-20.
Common questions
Is wholesaling legal in New Mexico?
No New Mexico statute governs assignment of a purchase contract by a principal buyer or requires a wholesale disclosure. Assignment is ordinary contract law — which means your contract has to say it is assignable.
Is there a 2024 New Mexico wholesaling license law?
Our legal gate could not verify the online tracker's claimed 2024 'Senate Bill 379' license law in any New Mexico legislative source and treats it as false.
When does wholesaling become brokerage in New Mexico?
The broker definition in NMSA §61-29-2 turns on acting for another for compensation. A person dealing with property they own is expressly carved out (§61-29-2(C)(1)).
General information about how these rules generally work, not legal advice. Laws change; verify current law with a licensed attorney in your state.
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The wholesaling rules for all 9 states we operate in, on paper, statute-cited — the same material this page is built from.