A person holding a lien or encumbrance as shown upon a certificate of title for a vehicle may release such lien or encumbrance or assign his interest to the owner without affecting the registration of said vehicle. The division, upon receiving a certificate of title upon which a lienholder has released or assigned his interest to the owner, or upon receipt of a certificate of title not so endorsed but accompanied by a legal release from a lienholder of interest in or to a vehicle, shall issue a new certificate of title as upon an original application.
History: 1953 Comp., § 64-3-112, enacted by Laws 1978, ch. 35, § 59.
Structure New Mexico Statutes
Part 2 - TRANSFER OF TITLE OR INTEREST
Section 66-3-102 - Endorsement of assignment and warranty of title.
Section 66-3-105 - Transfer by operation of law.
Section 66-3-106 - Owner after transfer not liable for negligent operation.
Section 66-3-108 - Transfer to dealers.
Section 66-3-109 - Dealer's guarantee of title.
Section 66-3-110 - When division to reregister vehicle and issue new certificate.
Section 66-3-111 - Assignment by person holding lien.
Section 66-3-112 - Release by lienholder to owner.
Section 66-3-113 - Failure to deliver certificate; penalty.
Section 66-3-115 - Notification forms; copies; resale of salvaged vehicle or motor vehicle.
Section 66-3-116 - Title cancellation.
Section 66-3-119 - Vehicle to be dismantled.
Section 66-3-120 - Transportation of certain vehicles; proof of ownership.
Section 66-3-121 - Disposal of abandoned vehicle or motor vehicle.
Section 66-3-122 - Registration effective after death of owner.
Section 66-3-123 - Requirements of purchaser; forms; distribution.
Section 66-3-124 - Department to provide forms.
Section 66-3-125 - Restrictions upon licensees.
Section 66-3-126 - Casual sales; place of sale; advertising; penalty.
Section 66-3-127 - Warning of violation; removal of vehicle.