The proceeds of such sale shall be applied first to the payment of costs in giving notice of sale and conducting the sale, and second to the indebtedness claimed under the lien.
Any amount of the proceeds then remaining shall be paid to the lien debtor, after first deducting any other amounts due by lien debtor to lien claimant. If the whereabouts of the lien debtor are unknown and are not discovered within six (6) months from the date of the sale after reasonable search and inquiry, any remaining proceeds due such lien debtor shall be paid to the county treasurer for the benefit of the common school fund of the county.
History: 1941 Comp., § 63-322, enacted by Laws 1953, ch. 125, § 6; 1953 Comp., § 61-3-25.
Structure New Mexico Statutes
Chapter 48 - Liens and Mortgages
Article 3 - Liens on Personal Property
Section 48-3-1 - Liens for manufacture or repairs; motor vehicles.
Section 48-3-2 - [Labor liens on horse-drawn vehicles.]
Section 48-3-4 - [Blacksmith's lien.]
Section 48-3-5 - Landlords' liens.
Section 48-3-6 - Landlord's preference in bankruptcy or insolvency proceedings.
Section 48-3-7 - Liens for board, feed, shelter or pasture; priority.
Section 48-3-8 - [Common carriers' liens.]
Section 48-3-9 - [Loss of lien.]
Section 48-3-10 - [Priorities between liens.]
Section 48-3-11 - [Acceptance of collateral security waives lien.]
Section 48-3-12 - [Assignability of liens.]
Section 48-3-13 - Enforcement of liens; optional methods.
Section 48-3-14 - Advertisement and sale of property.
Section 48-3-15 - [Disposition of proceeds of sale; purchase by lien claimant.]
Section 48-3-16 - Liens of owners and operators of public accommodations.
Section 48-3-17 - [Priority and enforcement of lien.]
Section 48-3-18 - [Penalty for removal of property on which lien has attached.]
Section 48-3-19 - Lien for towing, storage or wrecker service for automobiles.
Section 48-3-20 - [Rights of holder of lien for automobile service.]
Section 48-3-21 - Definitions.
Section 48-3-22 - Lien for work or services by retaining possession.
Section 48-3-23 - Possession; when lien shall not exist.
Section 48-3-24 - Lien not exclusive.
Section 48-3-25 - Enforcement of lien.
Section 48-3-26 - Sale to enforce lien.
Section 48-3-27 - Disposition of proceeds of sale.
Section 48-3-29 - Lien for repair or service to aircraft; detention; priority; enforcement.