N.M. Admin. Code § 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.
Notes
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