Statutes > New Mexico Statutes > Chapter 48 - Liens and Mortgages. > Article 3 - Liens on Personal Property, 48-3-1 through 48-3-29. > Section 48-3-15 - Disposition of proceeds of sale; purchase by lien claimant.

Section 48-3-15 - Disposition of proceeds of sale; purchase by lien claimant.

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.