New Mexico Statutes 29-1-15. Proceeds of sale; title to property vests in purchaser
Current as of: 2023 | Check for updates
|
Other versions
A. Any money derived by a peace officer from the sale of unclaimed personal property shall be paid to the appropriate treasurer for credit to the general fund of the state, county or municipality.
Terms Used In New Mexico Statutes 29-1-15
- Personal property: All property that is not real property.
B. Any person purchasing unclaimed personal property at a public auction conducted by a peace officer has good title to the property. The true owner of the unclaimed personal property is divested of any right to the property and is estopped from making any claim to the property.