Definitions.

As used in the Home Inspector Licensing Act: A. "approved examination" means a national home inspector licensing examination that has been third-party accredited as complying with the prevailing standards of the Standards for Educational and Psychological Testing and assesses an applicant's knowledge of: (1) roofing; (2) exterior; (3) interior; (4) structure; (5) electrical; (6) plumbing; (7) heating and cooling; (8) insulation; (9) fireplace and chimney; and (10) ethical business practices, professional standards and reports; B. "board" means the New Mexico home inspectors board; C. "client" means a person or an agent of the person who, through a written pre- inspection agreement, engages the services of a home inspector for the purpose of obtaining a report on the condition of residential real property; D. "compensation" means the payment for home inspection services pursuant to the written pre-inspection agreement; E. "foreign home inspector" means a home inspector who does not hold a license but who holds a current and valid home inspector license issued by another jurisdiction in the United States; F. "home inspection" means a noninvasive, nondestructive examination by a person of the interior and exterior components of a residential real property, including the property's structural components, foundation and roof, for the purposes of providing a professional written opinion regarding the site aspects and condition of the property and its carports, garages and reasonably accessible installed components. "Home inspection" includes the examination of the property's heating, cooling, plumbing and electrical systems, including the operational condition of the systems' controls that are normally operated by a property owner; G. "home inspector" means a person who performs home inspections for compensation; H. "license" means a home inspector license issued by the board in accordance with the Home Inspector Licensing Act; I. "licensee" means the holder of a license; J. "pre-inspection agreement" means the written agreement signed by the client and a home inspector by which a client engages the services of the home inspector and that sets forth at a minimum the following: (1) the amount of compensation due and payable to the home inspector for the home inspection and delivery of a report; (2) a list of all components and systems that will be inspected; and (3) the date by which the client will receive the report; K. "report" means a written opinion prepared by a home inspector pursuant to the terms of a pre-inspection agreement regarding the functional and physical condition of the residential real property as determined by a home inspection conducted by a home inspector; and L. "residential real property" means any real property or manufactured or modular home that is used for or intended to be used for residential purposes and that is a single-family dwelling, duplex, triplex, quadplex or unit, as "unit" is defined by the Condominium Act [47-7A-1 to 47-7D-20 NMSA 1978].