2019 New Mexico Statutes
Chapter 7 - Taxation
Article 1 - Administration
Section 7-1-45 - Manner of sale or conversion to money.
All property levied upon, not consisting of money, shall be sold at public auction at one o'clock in the afternoon on the steps or in front of the courthouse of the county in which the property was located when levied upon or may be consigned to an auctioneer for sale. Payment may be accepted only in full and immediately after the acceptance of a bid for the property. Stocks, bonds, securities and similar property may be negotiated or surrendered for money in accordance with uniform regulations issued by the secretary, notwithstanding the above.
History: 1953 Comp., § 72-13-59, enacted by Laws 1965, ch. 248, § 47; 1979, ch. 144, § 40; 2001, ch. 56, § 8.
ANNOTATIONSCross references. — For auctions generally, see 61-16-1 and 61-16-2 NMSA 1978.
The 2001 amendment, effective July 1, 2001, substituted "secretary" for "director" at the end of the section.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 72 Am. Jur. 2d State and Local Taxation §§ 931 to 939.
Validity of judicial, execution, tax or other public sale as affected by the particular point in courthouse or other place identified by notice, or designated by statute or by mortgage or trust deed, at which the sale was made, or by indefiniteness of notice as regards that point, 120 A.L.R. 660.
What constitutes "public sale," 4 A.L.R.2d 575.
85 C.J.S. Taxation §§ 1178 to 1194.
