reglab/housing_qa huggingface dataset:
NM Stat § 39-5-5 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-5 - [Limit on sale price of real estate.]

No real property shall be sold on any execution issued out of any court in any case at law for less than two-thirds of the appraised cash value thereof, exclusive of liens and encumbrances. History: Laws 1856-1857, p. 66; C.L. 1865, ch. 34, § 21; Laws 1884, ch. 11, § 1; C.L. 1884, § 2171; C.L. 1897, § 3119; Code 1915, § 2202; C.S. 1929, § 46-113; 1941 Comp., § 21-205; 1953 Comp., § 24-2-5. ANNOTATIONSApplicability of article. — While 39-5-1 to 39-5-3 and 39-5-15 to 39-5-23 NMSA 1978 apply generally to foreclosures, 39-5-5 to 39-5-13 NMSA 1978 apply only to sales and levies under writs of execution. Armstrong v. Csurilla, 1991-NMSC-081, 112 N.M. 579, 817 P.2d 1221. This section does not apply to court-supervised foreclosure sales. Armstrong v. Csurilla, 1991-NMSC-081, 112 N.M. 579, 817 P.2d 1221. Sales price did not shock the conscience of the court. — Where the appraised value of defendant's home was $206,000 and the property sold for $100,000 or 48.7% of appraised value at the foreclosure sale; defendant did not have any meritorious defenses to the foreclosure judgment; although the special master did not publish and file notices of postponements of the sale, the special master published the original date, time and place of the sale for four weeks in a newspaper and each subsequent notice of postponement assured that the parties present at the postponed sale would be notified and the new date and time would be confirmed as acceptable to all parties present; and the sales price was greater than the amount defendant owed on the loan, including costs and fees and the sale did not result in a deficiency judgment against defendant, the circumstances of the sale did not lead to an unfair result to defendant and the district court did not abuse its discretion in determining that the sales price did not shock the conscience of the court. Charter Bank v. Francoeur, 2012-NMCA-078, 287 P.3d 333, cert. granted, 2012-NMCERT-008. Am. Jur. 2d, A.L.R. and C.J.S. references. — 30 Am. Jur. 2d Executions § 521 et seq. Right of officers conducting sale under execution to refuse to accept bid because inadequate, 110 A.L.R. 1077. Inadequacy of price as basis for setting aside execution or sheriff's sale - modern cases, 5 A.L.R.4th 794. Propriety of setting minimum or "upset price" for sale of property at judicial foreclosure, 4 A.L.R.5th 693. 33 C.J.S. Executions § 233.
NM Stat § 39-5-6 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-6 - [Sheriff to ascertain value.]

The sheriff, between the days of levying the execution and the sale of the property, shall proceed to ascertain the cash value of such property as follows: History: Laws 1856-1857, p. 66; C.L. 1865, ch. 34, § 22; C.L. 1884, § 2172; C.L. 1897, § 3120; Code 1915, § 2203; C.S. 1929, § 46-114; 1941 Comp., § 21-206; 1953 Comp., § 24-2-6. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — Inadequacy of price as basis for setting aside execution or sheriff's sale - modern cases, 5 A.L.R.4th 794.
NM Stat § 39-5-7 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-7 - [Selection of appraisers; appraisal.]

For that purpose two disinterested householders of the neighborhood where the levy is made shall be selected as appraisers, one of whom shall be selected by each of the parties or their agents, or in the absence of either party or his agent, or upon the refusal of either party, after three days' notice by the sheriff to make the selection, the sheriff shall proceed to select the appraisers, who shall proceed to appraise the property according to its cash value at the time, deducting liens and encumbrances; and in case of their disagreement as to the value thereof, they shall select a like disinterested appraiser, and with his assistance shall complete the valuation, and the appraisement of any two of them shall be deemed the cash value. History: Laws 1856-1857, p. 66; C.L. 1865, ch. 34, § 23; C.L. 1884, § 2173; C.L. 1897, § 3121; Code 1915, § 2204; C.S. 1929, § 46-115; 1941 Comp., § 21-207; 1953 Comp., § 24-2-7. ANNOTATIONSSection not mandatory. — While this section provides that the judgment debtor shall have three days' notice to select an appraiser, it is not mandatory; there is no duty upon the officer to hunt up the judgment debtor or to await the judgment debtor's return before making an appraisement. Inman v. Brown, 1955-NMSC-018, 59 N.M. 196, 281 P.2d 474. Waiver. — Failure to object to the appraisement before sale waives the right to select an appraiser. Inman v. Brown, 1955-NMSC-018, 59 N.M. 196, 281 P.2d 474. Am. Jur. 2d, A.L.R. and C.J.S. references. — 30 Am. Jur. 2d Executions § 291 et seq. 50 C.J.S. Judicial Sales § 9.
NM Stat § 39-5-8 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-8 - [Appraiser failing to act.]

In case any appraiser shall fail to act or to complete such valuation, another shall be chosen in his stead as above provided. History: Laws 1856-1857, p. 66; C.L. 1865, ch. 34, § 24; C.L. 1884, § 2174; C.L. 1897, § 3122; Code 1915, § 2205; C.S. 1929, § 46-116; 1941 Comp., § 21-208; 1953 Comp., § 24-2-8.
NM Stat § 39-5-9 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-9 - [Schedule of property.]

The sheriff shall furnish the appraisers with a schedule of the property levied on with the encumbrances made known to him, and they shall proceed to fix, and set down opposite to each tract, lot or parcel of real estate, the cash value, deducting liens and encumbrances, which schedule shall be returned to the sheriff. History: Laws 1856-1857, p. 68; C.L. 1865, ch. 34, § 26; C.L. 1884, § 2175; C.L. 1897, § 3123; Code 1915, § 2206; C.S. 1929, § 46-117; 1941 Comp., § 21-209; 1953 Comp., § 24-2-9. ANNOTATIONSDuty of appraisers. — Although neither the sheriff nor the appraisers were required to ascertain the amount of prior liens or encumbrances in arriving at the cash value of the land, the appraisers were charged with the duty of deducting all known liens and encumbrances in determining the cash value of the land. Columbus Elec. Coop. v. Brown, 1966-NMSC-221, 77 N.M. 102, 419 P.2d 757. Effect of noncompliance. — The appraisal is an essential step in the statutory judicial sale procedure, and a failure to comply with statutory provisions may well require disapproval of a sale in the interest of justice. Columbus Elec. Coop. v. Brown, 1966-NMSC-221, 77 N.M. 102, 419 P.2d 757 (holding that vacating of sale by district court where appraisers failed to deduct liens and encumbrances of which they know was not an abuse of discretion).
NM Stat § 39-5-10 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-10 - [No duty to ascertain amount of liens.]

It shall not be the duty of the sheriff or appraisers to ascertain the amount of liens or encumbrances, but either party may furnish the sheriff with a list thereof, with the amount and nature of each. History: Laws 1856-1857, p. 66; C.L. 1865, ch. 34, § 25; C.L. 1884, § 2176; C.L. 1897, § 3124; Code 1915, § 2207; C.S. 1929, § 46-118; 1941 Comp., § 21-210; 1953 Comp., § 24-2-10. ANNOTATIONSAppraiser's duty. — Although neither the sheriff nor the appraisers were required to ascertain the amount of prior liens or encumbrances in arriving at the cash value of the land, the appraisers were charged with the duty of deducting all known liens and encumbrances in determining the cash value of the land. Columbus Elec. Coop. v. Brown, 1966-NMSC-221, 77 N.M. 102, 419 P.2d 757.
NM Stat § 39-5-11 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-11 - [Oath of appraisers.]

The appraisers shall take and subscribe an oath annexed to such appraisements, to the effect that the property mentioned in the schedule is, to the best of their judgment, worth the sums specified therein, that the same is the fair cash value thereof at the time, exclusive of liens and encumbrances; which oath the sheriff is authorized to administer and attest when taken and subscribed by the appraisers. History: Laws 1856-1857, p. 68; C.L. 1865, ch. 34, § 27; C.L. 1884, § 2177; C.L. 1897, § 3125; Code 1915, § 2208; C.S. 1929, § 46-119; 1941 Comp., § 21-211; 1953 Comp., § 24-2-11. ANNOTATIONS
NM Stat § 39-5-12 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-12 - [Unsold property; return.]

When any property levied on remains unsold, it shall be the duty of the sheriff, when he returns the execution, to return the appraisement therewith, stating in his return the failure to sell, and the cause of the failure. History: Laws 1856-1857, p. 68; C.L. 1865, ch. 34, § 29; C.L. 1884, § 2179; C.L. 1897, § 3127; Code 1915, § 2210; C.S. 1929, § 46-121; 1941 Comp., § 21-212; 1953 Comp., § 24-2-12.
NM Stat § 39-5-13 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-13 - [Lien continues; alias writ.]

The lien of the levy upon the property shall continue until the debt is paid, and the clerk, unless otherwise directed by the plaintiff, shall forthwith issue another execution, reciting the return of the former execution, the levy and failure to sell, and directing the sheriff to satisfy the judgment out of the property unsold, if the same is sufficient, if not, then out of any other property of the debtor, subject to execution. History: Laws 1856-1857, p. 68; C.L. 1865, ch. 34, § 30; C.L. 1884, § 2180; C.L. 1897, § 3128; Code 1915, § 2211; C.S. 1929, § 46-122; 1941 Comp., § 21-213; 1953 Comp., § 24-2-13. ANNOTATIONSLien on personalty created by levy. — New Mexico follows the general law that a lien on personalty is created as the result of a levy under a writ of execution. Von Segerlund v. Dysart, 137 F.2d 755 (9th Cir. 1943). New lien with each levy. — Examination of the entire chapter in which this section appears makes it clear that the "property" referred to means personalty as well as realty, and that each levy creates a new lien upon the property affected by it. Von Segerlund v. Dysart, 137 F.2d 755 (9th Cir. 1943). Bankruptcy. — Lien on real estate having been obtained more than four months preceding filing of involuntary petition in bankruptcy against alleged insolvent debtor, an alias levy on debtor's personalty within the four months' period created a lien, the debtor's acquiescence therein being "an act of bankruptcy" authorizing an involuntary adjudication. Von Segerlund v. Dysart, 137 F.2d 755 (9th Cir. 1943). Law reviews. — For article, "Attachment in New Mexico - Part II," see 2 Nat. Resources J. 75 (1962).
NM Stat § 39-5-14 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-14 - [Reoffer of unsold property; costs; revaluation.]

Whenever any property levied upon remains unsold for want of buyers, the plaintiff may cause the same to be reoffered at any time before the return day of the execution, at his cost, as often as he may direct, but in case of the sale of the property, the costs of such offer and sale shall be taxed against the defendant; each party may have one revaluation of the property, at his costs, after the first offer to sell. History: Laws 1856-1857, p. 68; C.L. 1865, ch. 34, § 31; C.L. 1884, § 2181; C.L. 1897, § 3129; Code 1915, § 2212; C.S. 1929, § 46-123; 1941 Comp., § 21-214; 1953 Comp., § 24-2-14. ANNOTATIONSLaw reviews. — For article, "Judicial Adoption of Comparative Fault in New Mexico: The Time Is at Hand," see 10 N.M.L. Rev. 3 (1979-80). Am. Jur. 2d, A.L.R. and C.J.S. references. — Steps to be taken by officer before resale upon default of purchaser at judicial or execution sale, 24 A.L.R. 1330.
NM Stat § 39-5-15 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-15 - [Foreclosure; lien claimed by deceased; making unknown heirs and devisees parties defendant.]

In all actions brought for the foreclosure of any real estate mortgage or deed of trust where the plaintiff alleges in his complaint that any person who is now deceased, during his lifetime, claimed a lien upon the real estate described in said mortgage or trust deed and further alleges either that there has been no administration of such decedent's estate, or that the plaintiff is unable to ascertain the names, residences and whereabouts of the heirs, devisees or legatees of such deceased person he may make such unknown heirs, legatees and devisees of any such deceased person parties defendant to said cause under the name, style and designation of "unknown heirs, devisees, or legatees, of (here insert name of deceased person), deceased"; and service of process on and notice of said suit against such defendants shall be made as provided by law and the rules of court. History: Laws 1937, ch. 134, § 1; 1941 Comp., § 21-216; 1953 Comp., § 24-2-16. ANNOTATIONSCross references. — For rule of procedure relating to service of process, see Rule 1-004 NMRA. Applicability of article. — While 39-5-1 to 39-5-3 and 39-5-15 to 39-5-23 NMSA 1978 apply generally to foreclosures, 39-5-5 to 39-5-13 NMSA 1978 apply only to sales and levies under writs of execution. Armstrong v. Csurilla, 1991-NMSC-081, 112 N.M. 579, 817 P.2d 1221. Am. Jur. 2d, A.L.R. and C.J.S. references. — Mortgage foreclosure forbearance statutes - modern status, 83 A.L.R.4th 243. 59 C.J.S. Mortgages § 630.
NM Stat § 39-5-16 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-16 - Foreclosure after March 15; growing crops.

In cases of mortgage foreclosures of property on which there is a growing crop and when the proceeding has been commenced after March 15 of any year, the mortgagor shall not be dispossessed by any means whatsoever until the crop has been fully harvested, and the mortgagor shall be entitled to retain the crops; provided, however, that the mortgage instrument may provide otherwise. History: Laws 1934 (S.S.), ch. 26, § 1; 1941 Comp., § 21-217; 1953 Comp., § 24-2-17; 1991, ch. 229, § 1. ANNOTATIONSCross references. — For right of purchaser upon redemption to growing crops, see 39-5-22 NMSA 1978. The 1991 amendment, effective June 14, 1991, added the catchline; substituted "mortgagor" for "mortgagee"; inserted "the mortgagor"; and made stylistic changes throughout the section. Am. Jur. 2d, A.L.R. and C.J.S. references. — Judicial or execution sale of realty as affecting debtor's share in crops grown by tenant or cropper, 13 A.L.R. 1425, 113 A.L.R. 1355. Mortgage foreclosure forbearance statutes - modern status, 83 A.L.R.4th 243. 59 C.J.S. Mortgages § 313.
NM Stat § 39-5-17 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-17 - Time for sale under judgment or decree of foreclosure; avoidance of sale.

No real property shall be sold under any judgment or decree of court foreclosing any mechanic's or materialman's lien, mortgage, mortgage deed, trust deed or any other written instrument which may operate as a mortgage, until thirty days after the date of entry thereof, within which time the then owner of the real estate, his heirs, personal representatives, assigns or any junior lienholder may pay off the judgment or decree and avoid the sale by depositing in the office of the clerk of the district court in which the judgment, decree or order was entered the amount necessary to make payment thereof, including accrued interest and costs of suit. History: Laws 1931, ch. 149, § 1; 1941 Comp., § 21-218; 1953 Comp., § 24-2-18; Laws 1971, ch. 88, § 1. ANNOTATIONSCross references. — For provision making redemption unavailable after foreclosure of lien on oil and gas wells or pipe-lines, see 70-4-8 NMSA 1978. Redemption period. — Construing the provisions of this section and 39-5-18 NMSA 1978 together, it is apparent that a person entitled to redeem is given at least 11 months (now 10 months) from the date of the foreclosure judgment within which to redeem. Springer Corp. v. Kirkeby-Natus, 1969-NMSC-045, 80 N.M. 206, 453 P.2d 376. Time of advertising. — Section 3938, 1897 C.L., which prohibited the sale of real property under or by any order, judgment or decree of any court until 90 days after its date, within which time the mortgagor or any one for him might pay off the decree and avoid the sale, nowhere provided that the advertisement of such sale should not begin until after expiration of the 90 days, and in case of foreclosed property, which was properly advertised and not sold until after expiration of 90 days' stay allowed by law, such sale was legal and valid, but expenses of advertising notices were unnecessary and could not be allowed where sale was avoided by payment of such decree. Neher v. Crawford, 1901-NMSC-007, 10 N.M. 725, 65 P. 156. Am. Jur. 2d, A.L.R. and C.J.S. references. — 30 Am. Jur. 2d Executions § 473 et seq. Mortgage foreclosure forbearance statutes - modern status, 83 A.L.R.4th 243. 56 C.J.S. Mechanic's Liens § 421; 59 C.J.S. Mortgages § 726.
NM Stat § 39-5-19 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-19 - Application; shorter redemption period.

This section and Section 39-5-18 NMSA 1978 do not apply to any foreclosure sale made before the effective date of this section. The parties to any such instrument may, by its terms, shorten the redemption period to not less than one month, but the district court may in such cases, upon a sufficient showing before judgment that redemption will be effected, increase the period of redemption to not to exceed nine months notwithstanding the terms of such instrument. History: 1953 Comp., § 24-2-19.1, enacted by Laws 1957, ch. 109, § 2; 1965, ch. 224, § 1. ANNOTATIONSComputation of redemption period. A calendar month runs from the date of the court order triggering the right of redemption to the corresponding date of the subsequent month; this rule corresponds to the preference expressed in 12-2A-7C NMSA 1978 (enacted after this section), conforms with the requirements of Rule 1-006A NMRA governing court orders, and is consistent with the common understanding of when a one-month period, beginning on a certain date, will expire. U.S. Bank Nat'l Ass'n v. Martinez, 2003-NMCA-151, 134 N.M. 665, 81 P.3d 608, cert. denied, sub nom. Bustos v. Haldeman, 2003-NMCERT-003, 135 N.M. 51, 84 P.3d 668. Extension of redemption period. — There are two situations in which a court will use its equitable powers to grant a debtor an extension of the redemption period. In the first type of situation, the debtor fulfills all of the requirements of the redemption statute, but redemption is not complete because of a clerical error or technical mix-up. In the second type of situation, courts look for evidence of fraud, deceit, or collusion to justify the grant of a redemption period extension. Brown v. Trujillo, 2004-NMCA-040, 135 N.M. 365, 88 P.3d 881, cert. denied, 2004-NMCERT-004, 135 N.M. 562, 91 P.3d 603. Reduction of redemption period. — Although the legislature initially granted a nine-month period of redemption for junior lienholders, the legislature also intended to give the parties to the instrument being foreclosed the power to reduce the statutory period to not less than one month by entering into a written agreement contained in the instrument being foreclosed. Sun Country Sav. Bank v. McDowell, 1989-NMSC-043, 108 N.M. 528, 775 P.2d 730. The 30-day time limit set by 39-1-1 NMSA 1978 for the court's ruling on a motion does not apply to a petition for a certificate of redemption. Crown Life Ins. Co. v. Candlewood, Ltd., 1991-NMSC-090, 112 N.M. 633, 818 P.2d 411. Am. Jur. 2d, A.L.R. and C.J.S. references. — 55 Am. Jur. 2d Mortgages § 900. Constitutionality of statute extending period for redemption from judicial or tax sale, or sale upon mortgage foreclosure, 1 A.L.R. 143, 38 A.L.R. 229, 89 A.L.R. 966. 59 C.J.S. Mortgages § 845.
NM Stat § 39-5-20 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-20 - Repealed.

ANNOTATIONSRepeals. — Laws 1987, ch. 61, § 25 repeals 39-5-20 NMSA 1978, as enacted by Laws 1931, ch. 149, § 3, relating to redemption of real property sold under power of sale in an instrument, effective June 19, 1987. For provisions of former section, see NMOneSource.com. For present comparable provisions, see 39-5-18 NMSA 1978.
NM Stat § 39-5-22 (2021)
2021 New Mexico Statutes|Chapter 39 - Judgments, Costs, Appeals|Article 5 - Sales Under Execution and Foreclosure|Section 39-5-22 - [Rights of purchaser upon redemption; growing crops; rents and profits; waste.]

Whenever any property shall be redeemed under the terms or provisions of any section of this act [39-5-17 to 39-5-23 NMSA 1978], the purchaser, his personal representatives or assigns shall have the growing crops upon such lands and shall not be responsible for rents and profits, but shall account only for waste. History: Laws 1931, ch. 149, § 5; 1941 Comp., § 21-222; 1953 Comp., § 24-2-22. ANNOTATIONSCross references. — For retention of growing crops where foreclosure commences after March 15, see 39-5-16 NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 30 Am. Jur. 2d Executions § 447 et seq. Crops: right in respect of crops grown during period of redemption after judicial or execution sale, 66 A.L.R. 1420.