§ 1-17-316 — Appraisement of real property required; exception

a) The officer who levies execution upon real property
shall designate a qualified appraiser or three (3)
disinterested property owners who are residents of the county
where the lands taken in execution are situate and administer to
the appraiser or to the property owners an oath to view and
impartially appraise the value of the property levied upon or
any interest of the judgment debtor. The appraiser or the
property owners shall return to the officer as soon as possible
a signed estimate of the appraised value.
(b) When the officer receives the return, he shall
promptly deposit a copy with the clerk of the court from which
the writ issued and immediately advertise and sell the real
estate or the judgment debtor's interest as provided by law.
(c) If upon the return it appears that two-thirds (2/3) of
the appraised value of the judgment debtor's interest in the
real estate levied upon is sufficient to satisfy the execution
with costs, the judgment on which the execution is issued shall
not operate as a lien on the residue of the debtor's estate to
the prejudice of any other judgment creditor. Except as
expressly authorized by law, no real estate shall be sold for
less than two-thirds (2/3) of the appraised value of the
judgment debtor's interest in the property.
(d) All lands the property of persons indebted to the
state for any debt or taxes, except for loans authorized by the
legislature, shall be sold without appraisal notwithstanding any
other provision of law.