Section 29-1-15 - Proceeds of sale; title to property vests in purchaser. - New Mexico Statutes

29-1-15. Proceeds of sale; title to property vests in purchaser.

A.     Any money derived by a peace officer from the sale of unclaimed personal property shall be paid to the appropriate treasurer for credit to the general fund of the state, county or municipality.   

B.     Any person purchasing unclaimed personal property at a public auction conducted by a peace officer has good title to the property. The true owner of the unclaimed personal property is divested of any right to the property and is estopped from making any claim to the property.