Section 66-3-108 – Transfer to dealers.
When the transferee of a vehicle is a dealer who holds the vehicle for resale and does not drive the vehicle or permit it to be driven upon the highways, the dealer shall not be required to obtain transfer of registration of the vehicle or forward the certificate of title to the department. However, the […]
Section 66-3-109 – Dealer’s guarantee of title.
A dealer licensed under the Motor Vehicle Code [66-1-1 NMSA 1978] may guarantee the title to a specially constructed or reconstructed vehicle for which no title exists, and may guarantee the title of any vehicle for which the certificate of title cannot be obtained. Such guarantee shall be in the form of an affidavit filed […]
Section 66-3-101 – Transfer by owner; recordation of mileage of vehicle; use of the plate and registration number on another vehicle.
A. When the owner of a registered vehicle sells, transfers or assigns the owner’s title to or interest in, and delivers the possession of, the vehicle to another, the registration of the vehicle shall expire. The previous owner shall notify the division of the sale or transfer giving the date thereof, the name and address […]
Section 66-3-101.1 – Terminal rental adjustment clauses; vehicle leases that are not sales nor create security interests.
Notwithstanding any other provision of law, in the case of motor vehicles or trailers that are leased, except for those motor vehicles or trailers leased for personal, family or household purposes, a lease transaction does not create a sale of or security interest in a motor vehicle or trailer, or transfer ownership to the lessee, […]
Section 66-3-102 – Endorsement of assignment and warranty of title.
The owner shall endorse an assignment and warranty of title upon the certificate of title for such vehicle with a statement of all liens or encumbrances thereto, and he shall deliver the certificate of title to the purchaser or transferee at the time of delivering the vehicle. History: 1953 Comp., § 64-3-102, enacted by Laws […]
Section 66-3-103 – New owner to secure transfer of registration and new certificate of title; time period; penalty.
A. Except as otherwise provided by law, the transferee before operating or permitting the operation of the vehicle or boat on a highway or waterway shall present to the division the certificate of registration and the properly assigned certificate of title and shall apply for and obtain a new certificate of title and a new […]
Section 66-3-104 – Use of plate and registration number on another vehicle; transfer of registration.
A. When the owner of a registered vehicle assigns title or interest to the vehicle, the registration of that vehicle expires, unless the vehicle is registered for an extended registration period and the owner applies to have the registration number assigned to another vehicle as provided in Subsection B of this section. B. When the […]
Section 66-3-105 – Transfer by operation of law.
A. Whenever the title or interest of an owner in or to a registered vehicle shall pass to another by operation of law, as upon inheritance, bequest, order in bankruptcy or insolvency, execution sale, repossession upon default in performance in the terms of a lease or executory sales contract, or otherwise than by voluntary transfer, […]