New Mexico Statutes
Part 2 - TRANSFER OF TITLE OR INTEREST
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 dealer, upon transferring his title or interest to another person, shall execute an assignment and warrant of title upon the certificate of title and deliver the same to the person to whom the transfer is made.
History: 1953 Comp., § 64-3-108, enacted by Laws 1978, ch. 35, § 55; 1998, ch. 48, § 7.
The 1998 amendment, effective July 1, 1998, substituted "vehicle" for "same", deleted "operates the same only for purposes incident to a resale or when a dealer" following "and", substituted "department" for "division" and made minor stylistic changes.

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Structure New Mexico Statutes

New Mexico Statutes

Chapter 66 - Motor Vehicles

Article 3 - Registration Laws; Security Interests; Anti-Theft Provisions; Bicycles; Equipment; Unsafe Vehicles; Off-Highway Motor Vehicles; Other Vehicles

Part 2 - TRANSFER OF TITLE OR INTEREST

Section 66-3-101 - Transfer by owner; recordation of mileage of vehicle; use of the plate and registration number on another vehicle.

Section 66-3-101.1 - Terminal rental adjustment clauses; vehicle leases that are not sales nor create security interests.

Section 66-3-102 - Endorsement of assignment and warranty of title.

Section 66-3-103 - New owner to secure transfer of registration and new certificate of title; time period; penalty.

Section 66-3-104 - Use of plate and registration number on another vehicle; transfer of registration.