New Mexico Vehicle Titles
Instructions for Signing a Vehicle Title in New Mexico (Private Party Sale)
When selling a vehicle in New Mexico through a private party sale, it is necessary to properly sign the vehicle title to transfer ownership. Here are the step-by-step instructions to complete this process:
1. Seller’s Responsibility:
a. Before selling the vehicle, ensure you have a clear title with no liens or pending loans.
b. Verify that your name is correctly spelled on the title as the registered owner.
c. If there are multiple owners listed on the title, all parties must sign the title.
2. Buyer’s Responsibility:
a. Before purchasing the vehicle, always request to see the original title document.
b. Verify that the vehicle identification number (VIN), make, and model on the title match the physical vehicle.
3. Completing the Assignment of Title:
a. Fill in the “Seller” and “Buyer” sections on the front side of the title.
– Provide the buyer’s full legal name, address, and contact information in the corresponding fields.
– Write the date of sale in the designated area. (mm/dd/yyyy)
4. Mileage Verification Statement:
a. Fill in the current mileage of the vehicle accurately in the “Odometer Reading” section.
b. If the vehicle is ten years or older, check the box indicating the required mileage has “exceeded mechanical limits.”
5. Signature and Notarization:
a. In the “Seller” section of the title:
– Sign your name exactly as it is printed on the title.
– Print your name below the signature.
– If applicable, co-owners must also sign and print their names.
b. On the back side of the title, there is an “Odometer Disclosure Statement” section. You must sign and print your name in the designated fields.
c. Notarization is not required for vehicle titles in New Mexico unless the seller is signing through a power of attorney.
6. Bill of Sale:
a. Though not legally required, it is recommended to create a Bill of Sale as it provides additional documentation of the sale.
b. A Bill of Sale includes important details such as the vehicle’s VIN, make, model, selling price, buyer and seller information, and the date of sale.
c. Both the buyer and seller should retain a copy of the signed Bill of Sale for their records.
7. Submitting Required Documents:
a. Seller’s responsibility:
– Hand over the signed and completed title to the buyer.
b. Buyer’s responsibility:
– Submit the signed title, a completed Application for Vehicle Title and/or Registration (Form MVD-10002), and payment of applicable fees to the New Mexico Motor Vehicle Division (MVD) for registering the vehicle in their name.
Remember, it is essential to follow these instructions carefully to ensure a smooth transfer of ownership. If you have any additional questions or concerns, contact the New Mexico MVD or consult legal professionals for further guidance.