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Reference: the security deposit rule in each state and covered city. To settle a deposit, use the free Deposit settlement tool.

Reference

Security deposit rules in New Mexico

New Mexico: return the deposit within 30 calendar days of the later of move-out and the end of the tenancy. Interest: conditional. Penalty if the refund or statement is late: forfeiture of the right to withhold (plus up to $250.00). (NMSA 1978 47-8-18 (Uniform Owner-Resident Relations Act))

The rule in plain words

  • Return by: 30 calendar days after the later of move-out and the end of the tenancy.
  • Deductions allowed: unpaid rent, unpaid utilities, damage beyond wear. Normal wear and tear never. Depreciation: none.
  • Interest: Conditional.
  • Penalty: forfeiture of the right to withhold (plus up to $250.00) if the refund or statement is late.
  • Deposit cap: 1 month(s) of rent (One month's rent applies only to agreements shorter than one year; annual agreements have no fixed cap.).

The rule text

In the event actual cause exists for retaining any portion of the deposit, the owner shall provide the resident with an itemized written list of the deductions from the deposit and the balance of the deposit, if any, within thirty days of the date of termination of the rental agreement or resident departure, whichever is later.

NMSA 1978 47-8-18(C). Source: NMSA 1978 47-8-18 Deposits, read 2026-10-09.

Research notes (2)

How we sourced this rule: where the text was read and what we could not check.

  • The official NMOneSource site is a JavaScript PDF viewer, so the text was read on FindLaw (current as of 2024-01-01). ezel.ai checked NMOneSource on 2026-10-07 and found the same wording.
  • deposit_cap.months_rent=1 applies only to agreements under one year; the engine needs the lease term to apply it.

Worked example

A $2,000.00 deposit; the tenant moved in on June 1, 2023 and out on September 30, 2026. Intended deductions: $300.00 unpaid rent, $150.00 cleaning and a $1,200.00 carpet that was 5 years old.

Return by
October 30, 2026

30 calendar days after the later of move-out and the end of the tenancy.

Allowed deductions
$1,500.00

Of $1,650.00 claimed.

Refund due
$500.00

Interest $0.00.

The draft statement for this example
DRAFT ITEMIZED STATEMENT OF SECURITY DEPOSIT
Rule: NMSA 1978 47-8-18 (Uniform Owner-Resident Relations Act) (New Mexico)
Move-out date: September 30, 2026

Security deposit held                            $2,000.00
Interest credited                                 see note
Deduction: Unpaid rent                            -$300.00
Deduction: Carpet                               -$1,200.00
Total deductions                                -$1,500.00
Refund due to tenant                               $500.00
Return by                                   October 30, 2026

Notes:
- Itemized under NMSA 1978 47-8-18 (Uniform Owner-Resident Relations Act).

Settle a deposit in New Mexico

required

Where and how much

The state sets the rules; a covered city adds its own.

Dates

The dates start the clock.

Check as of another date

Deductions

What you intend to keep; leave it empty to return everything. An item's age depreciates carpet, paint, blinds and appliances.

Deduction 1
Up to 9 lines.

Documentation

Some states require receipts or dated photos before a deduction stands.

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Computes and cites the published rule; it is not legal advice. You sign the statement: check the statute, your lease and any local ordinance first. Read the disclaimer.

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