Legal Question in Real Estate Law in New Mexico

I would have to review the contract with HfH to give you a real answer to the question. Once I have the exact language of the contract (and the deed, if there is one) then I can answer the question...maybe. You are getting into a very arcane area of the law. HfH exists in more places than Valencia County...but it's possible that the agreement is with Valencia County HfH, in which case it might (might, maybe, nothing is certain without reviewing the contract and deed) not have a successor that would have the power to enforce the covenant.

Most likely, when the local HfH shuts down, it will transfer its rights and powers to another chapter and/or the national organization.

Now you are concerned about whether you would still be bound, or "just the property." If the covenant attaches to the property, you might have trouble selling the home. If it's personal to you, it would not affect your title to the property. Covenants that "run with the land" could make it impossible to sell or mortgage the property unless you can show compliance with the agreements...which I have not seen.

Bottom line: you are bound to the agreement. Your property may be encumbered by it too, though that is less likely than that it is a personal promise. A distany chapter might not know of your breach and might not be likely to enforce even if it knew, but as a matter of legal advice, you can't count on that.