On March 11, 2025, the New Mexico House of Representatives introduced House Bill 426, aimed at enhancing the rights of residents in mobile home parks regarding potential sales of their communities. The bill seeks to address the growing concerns of mobile home residents who often face displacement when park owners decide to sell to third parties.

The key provisions of House Bill 426 include a requirement for mobile home park owners to notify all resident households and the executive director of the New Mexico Mortgage Finance Authority of any bona fide offers for sale that the owner intends to accept. This notification must include the material terms, conditions, and amount of the offer, as well as a notice of the residents' rights under the bill.

Importantly, the bill grants residents the opportunity to purchase the mobile home park before the owner can accept any third-party offers. To exercise this right, at least fifty-one percent of the residents must submit documentation verifying their approval of the purchase, including a proposed purchase and sale agreement that matches the terms of the third-party offer. They must also secure necessary financing and close the purchase within specified timeframes.

The introduction of House Bill 426 has sparked notable discussions among lawmakers and stakeholders. Proponents argue that the bill empowers residents, providing them with a fair chance to maintain their homes and community. Critics, however, express concerns about the feasibility of residents coordinating such a purchase, particularly regarding financing and the potential for delays in the sale process.

The implications of this bill are significant, as it addresses both economic and social issues faced by mobile home residents, who often belong to vulnerable populations. By allowing residents to have a say in the future of their homes, the bill could foster greater community stability and prevent displacement.

As the legislative process unfolds, experts suggest that the bill may face challenges in garnering support from all lawmakers, particularly those concerned about the impact on property rights and market dynamics. The outcome of House Bill 426 will be closely monitored, as it could set a precedent for similar legislation in other states, reflecting a growing recognition of the rights of mobile home residents across the nation.