2006 New Mexico Statutes - 66-3-101 — Transfer by owner; recordation of mileage of vehicle.

66-3-101. Transfer by owner; recordation of mileage of vehicle.

A.     When the owner of a registered vehicle sells, transfers or assigns his title or interest in, and delivers the possession of, the vehicle to another, the registration of the vehicle shall expire, except as provided in Subsection B of this section. The previous owner shall notify the division of the sale or transfer giving the date thereof, the name and address of the new owner and such description of the vehicle as may be required in the appropriate form provided for such purpose by the division. In the case of any transfer, including but not limited to a transfer resulting from a sale, lease, gift or auction of any vehicle, the person making the transfer shall sign and shall record on the document evidencing the transfer of the vehicle the actual mileage of the vehicle as indicated by the vehicle's odometer at the time of the transfer.   

B.     The owner shall remove the registration plates from the vehicle except as provided in Subsection C of this section and, within thirty days from the date of transfer, forward the registration plates to the division or its authorized agent to be destroyed or may apply to have the plate and the registration number assigned to another vehicle, as provided for in Section 66-3-104 NMSA 1978, upon the payment of the difference, if any, between the paid registration fee and the new registration fee less a credit amount, if applicable, representing the unexpired portion of the registration fee as provided in Section 66-3-20.1 NMSA 1978 and the transfer fee provided by law and subject to the rules of the division.   

C.     When the owner of a vehicle bearing a current registration plate of a foreign state, territory or country transfers or assigns his title or interest in the vehicle, the foreign registration plate shall be delivered, together with the title to the vehicle and evidence of registration, to the division or its authorized agent at the time application is made for a New Mexico registration plate, except when the assignment or transfer of the title is to a bona fide resident of the foreign state, territory or country in which the vehicle is registered.