2021 New Mexico Statutes
Article 3 - Liens on Personal Property
Section 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.
Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Compiler's notes. — The subject matter which was originally contained in Code 1915, 3342, was given number 3345 in the 1917 and 1923 amendatory laws. For original Code 1915, 3345, see 48-3-8 NMSA 1978.
Landlord's lien with priority over subsequent judgment lien. — Landlord's statutory lien attached at the beginning of the tenancy for rental due or to become due under the terms of lease and had priority over execution lien arising from judgment recovered against tenants during lease, even though execution issued and sheriff levied on tenant's property before suit. Gathman v. First Am. Indian Land, Inc., 1965-NMSC-003, 74 N.M. 729, 398 P.2d 57.
Rights of innocent purchasers not considered. — No interest of third person as purchaser for value without notice has been considered by the legislature in setting up the procedure for the satisfaction of claims hereunder. Bell v. Dennis, 1939-NMSC-045, 43 N.M. 350, 93 P.2d 1003.

Structure 2021 New Mexico Statutes