N.M. Admin. Code § 19.2.14.10

Current through Register Vol. 35, No. 23, December 10, 2024

Section 19.2.14.10 - APPRAISAL OF LAND AND IMPROVEMENTS

A. Upon receipt of a proper application to purchase, and upon a preliminary determination that the sale might be advantageous to the trust, the commissioner will cause an appraisal of the land and the authorized improvements to be made. Thereafter, if the commissioner determines to offer the land for sale, a copy of the appraisal will be furnished to the applicant and to the owner of the improvements as well as to any other interested parties requesting same. Any party in interest aggrieved by the decision of the commissioner in setting the value of the improvements may appeal to the district court within 60 days as provided by law.

B. Upon receipt of the appraisal, the applicant shall notify the commissioner in writing as to whether the applicant is agreeable to starting the bidding upon the land at the appraised price. If not, the unused portion of the deposit shall be refunded to the applicant and the application rejected. If the applicant is agreeable with the appraisal of the land and the improvements, the applicant shall file with the commissioner a sum equal to the appraised value of the improvements or a waiver of payment signed by the owner thereof. If the applicant disagrees with the appraisal of the improvements the applicant may post bond with the commissioner to assure payment and appeal the appraisal as provided by law. Upon payment or posting of the bond the commissioner may proceed to advertise the sale.

C. Authorized improvements shall include water rights and all permanent improvements placed upon the land in compliance with the provisions of Section 19-7-51 NMSA 1978; all improvements placed upon the land prior to March 1, 1955, whether or not prior written permission of the commissioner was obtained; and all improvements approved by the commissioner under the provisions of Section 19-7-51 NMSA 1978.

D. Upon completion of the sale, the commissioner shall pay to the owner of the authorized improvements the value thereof as hereinabove determined; provided, however, in the event the lease provides for removal of improvements, either permanent or removable, the terms of the lease shall take precedence over this Rule.

N.M. Admin. Code § 19.2.14.10

12/31/99; 19.2.14.10 NMAC - Rn, 19 NMAC 3. SLO 14.10, 09/30/02, Amended by New Mexico Register, Volume XXX, Issue 11, June 11, 2019, eff. 6/11/2019