There is a newer version of the New Mexico Statutes
2023
2021
2020
2019
2018
Other previous versions
View our newest version here

2014 New Mexico Statutes
Chapter 48 - Liens and Mortgages
Section 3 Liens on Personal Property
Section 48-3-15 Disposition of proceeds of sale; purchase by lien claimant.

NM Stat § 48-3-15 (2014) What's This?
48-3-15. [Disposition of proceeds of sale; purchase by lien claimant.]
After sale made as provided in the preceding section [48-3-14 NMSA 1978], the proceeds of such sale shall be applied to the payment of the costs of advertising and making the sale and the satisfaction of the demand of the lien claimant, and the residue, if any, shall be refunded to the lien debtor; provided, that the lien claimant shall not be precluded from bidding on or purchasing the property at such sale.
History: Laws 1884, ch. 17, 4; C.L. 1884, 1545; C.L. 1897, 2242; Code 1915, 3342; Laws 1917, ch. 65, 1 (3345); 1923, ch. 24, 1 (3345); C.S. 1929, 82-413; 1941 Comp., 63-313; 1953 Comp., 61-3-13.

Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.