2021 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 66-3-108 - 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.
ANNOTATIONSThe 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.
