2023 New Mexico Statutes › Chapter 7 - Taxation › Article 1 - Administration › Section 7-1-49 - Legal effect of certificate of sale.

In all cases of sale of property other than real property, the certificate of sale provided for in Section 7-1-48 NMSA 1978 shall:
A. be prima facie evidence of the right of the department to make the sale and conclusive evidence of the regularity of the proceedings in making the sale;
B. transfer to the purchaser all right, title and interest of the delinquent taxpayer in and to the property sold, subject to all outstanding prior interests and encumbrances of record and free of any subsequent encumbrance;
C. if such property consists of stock certificates, be notice, when received, to any corporation, company or association of such transfer and be authority to such corporation, company or association to record the transfer on its books and records in the same manner as if the stock certificates were transferred or assigned by the record owner;
D. if the subject of sale is securities or other evidences of debt, be a good and valid receipt to the person holding the same, as against any person holding or claiming to hold possession of the securities or other evidences of debt; and
E. if such property consists of a motor vehicle as represented by its title, be notice, when received, to any public official charged with the registration of title to motor vehicles of the transfer and be authority to that official to record the transfer on the official's books and records in the same manner as if the certificate of title to the motor vehicle were transferred or assigned by the record owner.
History:
1953 Comp., § 72-13-63, enacted by Laws 1965, ch. 248, § 51; 1979, ch. 144, § 44; 2001, ch. 56, § 12.
ANNOTATIONS
Cross references.
— For records and recording generally,
see
14-1-1 NMSA 1978 et seq.
For record of shareholders of corporation,
see
53-11-50 NMSA 1978.
For purchase of investment securities generally,
see
55-8-301 NMSA 1978 et seq.
For registration, certificates of title and transfers of motor vehicles,
see
66-3-2, 66-3-3 and 66-3-9 NMSA 1978.
The 2001 amendment,
effective July 1, 2001, in Subsection A, substituted "department" for "director or his delegate" and "the proceedings" for "his proceedings"; and substituted "the official's books" for "his books" in Subsection E.
Am. Jur. 2d, A.L.R. and C.J.S. references.
— Right of public officer to purchase tax certificate or tax titles, 5 A.L.R. 969.
Right of holder of tax title or certificate of sale to reimbursement by taxing authorities where sale proves invalid, 77 A.L.R. 824, 116 A.L.R. 1408.
Statutory enactment or repeal subsequent to tax sale or issuance of tax certificates as affecting rights of holders of tax certificates or purchasers at tax sale, 111 A.L.R. 237.
Doctrine of constructive trust or unjust enrichment as applicable between owner and one who fraudulently procures tax certificates, 175 A.L.R. 700.
Effect of certificate, statement (or refusal thereof), or error by tax collector or other public official regarding unpaid taxes or assessments against specific property, 21 A.L.R.2d 1273.
Void tax deed, tax sale certificate, and the like, as constituting color of title, 38 A.L.R.2d 986.