If default be made in the payment of the debt, after such notice, it shall be lawful for the lien claimant or creditor, as provided in this article (48-3-1 to 48-3-15 NMSA 1978), to advertise and sell such property at public auction to the highest bidder for cash after giving at least twenty days' notice of such sale by:
A. at least six handbills posted up in public places in the county in which such sale is to be made; or
B. by publishing once each week for two successive weeks in some newspaper of general circulation in the county; such notices of sale shall set forth the time and place of sale and a description of the property to be sold, and the amount of indebtedness claimed under such lien.
History: Laws 1884, ch. 17, § 3; C.L. 1884, § 1544; C.L. 1897, § 2241; Code 1915, § 3341; Laws 1917, ch. 65, § 1 (3344); 1923, ch. 24, § 1 (3344); C.S. 1929, § 82-412; 1941 Comp., § 63-312; 1953 Comp., § 61-3-12; Laws 1955, ch. 67, § 2.
ANNOTATIONSCompiler's notes. — The subject matter which was originally contained in Code 1915, 3341, was given number 3344 in the 1917 and 1923 amendatory laws. For original Code 1915, 3344, see 48-3-8 NMSA 1978.
Cross references. — For publication in lieu of posting, see 14-11-3 NMSA 1978.
For judicial sales of perishable property pursuant to this section, see 39-5-1.1 NMSA 1978.
A landlord may not forcibly seize the property prior to compliance with this section. Ross v. Overton, 1924-NMSC-043, 29 N.M. 651, 226 P. 162.
Foreclosure on conditional vendor's property not conversion. — A lessor who forecloses his landlord's lien and sells property for nonpayment of rent is not guilty of wrongfully converting that property where it appears that the property was being purchased by the lessee and the plaintiff under a conditional sales contract from a vendor who had guaranteed the rent. Hesselden v. Karman, 1960-NMSC-114, 67 N.M. 434, 356 P.2d 451.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 51 Am. Jur. 2d Liens § 76.
What constitutes public sale, 4 A.L.R.2d 575.