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).