New Mexico Statutes 73-7-33. [Disposition of unsold lands.]
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In any case where the lands are offered for sale, pursuant to such foreclosure proceedings, and there is no bid upon any tract or parcel of land, such unsold lands may be disposed of by the drainage commissioners at public or private sale at such price and upon such terms as the court may direct, subject to the right of redemption as herein provided.
Terms Used In New Mexico Statutes 73-7-33
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC