New Mexico Administrative Code
Title 3 - TAXATION
Chapter 6 - PROPERTY TAXES
Part 7 - ADMINISTRATIVE PROVISIONS
Section 3.6.7.80 - DISTRIBUTION OF AMOUNTS RECEIVED FROM SALE OF PROPERTY

(1) The expenses of seizure and sale referred to in Section 7-38-67 NMSA 1978 are in addition to the "costs" referred to in Section 7-38-62 NMSA 1978 and may exceed those costs. Generally, the expenses of seizure and sale refer to the out-of-pocket expenses incurred by the department in seizing and selling a property. Costs are the internal expenses, such as employee wages and benefits, supplies and travel, of the department in carrying out its duties to enforce the property tax through sale of property.

(2) The amount of "costs", however, are a part of the "expenses of seizure and sale" as that phrase is used in Section 7-38-71 NMSA 1978 and shall be distributed accordingly.

(1) When the proceeds from the sale of property for delinquent taxes exceed the amount required to be retained by the department plus the amounts required to be remitted to the county treasurer as provided by Subsection A of Section 7-38-71 NMSA 1978, the department will notify by mail the former owners of record of their right to claim a refund of any excess funds from the sale.

(2) As used in this subsection, the term "former owner" means that person whose name appears as the assessed owner of the property on the property tax delinquency list. The term "former owner" also includes any other person whose name is revealed as having an ownership interest in the property through a search of property ownership records at the county clerk's office conducted by the department prior to the public auction sale.

(3) After receiving a completed application for refund and documentation necessary to establish proof of ownership of the property, the department shall determine if a claimant is entitled to receive any excess funds from the sale. The department, at its discretion, may require additional information from the claimant to establish the right of the claimant to the excess funds.

(4) In the event more than one claimant requests a refund of the excess funds, the department shall not refund any funds to any claimant until an order, issued by a court of competent jurisdiction which identifies which claimant is entitled to the refund, has been presented to the department.

(5) Any person with a claim established by lien, mortgage or judgment against the property which was sold may file a claim for the excess funds from the sale by presenting an order directed to the department by a court of competent jurisdiction which establishes that person's right to receive the excess funds.

(6) After completing the requirements of Paragraph (1) of this subsection and after the expiration of two years from the date of sale, the department will deposit any unclaimed excess funds in accordance with the provisions of the Uniform Unclaimed Property Act. Any person having any claim to the excess funds after the funds have been so deposited can make a claim for the funds as provided by the provisions of the Uniform Unclaimed Property Act. Such claims shall be addressed to the Unclaimed Property Unit.