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.
§ 66-3-108 NMSA 1978
Transfer to dealers
Known as the Off-Highway Motor Vehicle Act
The act spans §§ 66-3-1 to 66-3-901 (277 sections).
1953 Comp., § 64-3-108, enacted by Laws 1978, ch. 35, § 55; 1998, ch. 48, § 7.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.