Chapter CCLXX. to annul a Portion of a certain Statute of the Territory of New Mexico, and for other Purposes
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CHAP. CCLXX.— An Act to annul a Portion of a certain Statute of the Territory of New Mexico, and for other Purposes.July 14, 1870. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* That the following recited portionA certain portion of a statute of the Territory of New Mexico declared void. of a statute of the Territory of New Mexico, approved February second, eighteen hundred and sixty-five, viz.: “And no writ of execution shall on any account be executed on the real estate of any person, if there be no mortgage made by the husband and wife owning the said property, and the mortgage must have been executed with all the formalities required by law,” be, and the same is hereby, disapproved and declared null and void: *Provided,* That there shall be exempt from levy and forcedHomestead to the value of $1,000 exempt from levy, &c. sale under any process or order from any court of law or equity in said Territory the lot or parcel of ground and the buildings thereon occupied as a residence and owned by the debtor, being a householder and having a family, to the value of one thousand dollars.
And if, in the opinionIf premises are worth more than $1,000. of the creditors, the premises claimed by such debtor as exempt are worth more than one thousand dollars, then it shall be lawful for the officer to advertise and sell the said premises and out of the proceeds of279FORTY-FIRST CONGRESS. Sess. II. Ch. 270, 271, 272, 273. 1870. such sale to pay to such execution debtor the said sum of one thousand dollars, which shall be exempt from execution for one year thereafter, and apply the balance on said execution: *And provided further,* That noNo sale unless over $1,000 is bid. sale shall be made unless a greater sum than one thousand dollars shall be bid for said premises.
Approved, July 14, 1870.