How Do I Transfer a Car Title in New Mexico?

Title transfer is an essential part of registering, selling, and buying any kind of property. In doing so, the seller legally gives the ownership of the certain property to the buyer or acquires legal ownership in the case of titling their own property.

This same procedure applies to various kinds of owned goods, including cars. The process is of great importance because the holder of the ownership documents is responsible for any possible legal issue and so on.

So as soon as you sell or buy an automobile, make sure the pass-on of the title is successfully completed on time. This way, you can avoid any legal problems and complications. You must also accomplish this step when moving to Nex Mexico as a new resident along with the automobile. New Mexico MVD is the state agency overseeing these processes.

General Requirements

Before getting to the more specific preconditions and special situations for passing on the title, we should first take a look at the basic requirements. You ought to have the following papers:

• ID
• Car insurance
• Proof of residency
• Driver’s license
• The car title (approved by the seller)
• Odometer disclosure from the seller

Apart from this paperwork, make sure to have the vehicle inspected for emissions. You will have to do this part in person if it is your first time getting it. Afterward, take all of those documents to the MVD office along with the payments.

After submitting all these documents, turning in the transfer form, and making the necessary payments, your automobile is registered and tilted.

In case you are moving to NM and transferring the automobile registration from another state, you will need the title from the state that issued it. They will also have to do a VIN checkup to look for possible criminal or other activities involving the vehicle.

Transferring the Title When Selling and Buying the Vehicle

If you are the one selling the automobile, then it is your responsibility to pass on the title to the new owner. You also ought to provide all the documentation of the property to its new owner. As a seller, you have to further provide the following:

• Assign the title to the new owner
• Sign the title of the vehicle
• Complete a disclosure statement of the odometer

Give the buyer a Realise of Lien form (if relevant)

After the seller has completed their part of the responsibilities, the buyer needs to continue the process. They need to take all the paperwork that the seller provided and take them to the NM MVD office. Along with those documents, make sure to have the following;

• Sale’s bill (if asked for)
• Filled out an application for registration and title
• Proof of residency, issuance policy, ID, and emission inspection
• Proof of covered expenses
• Keep in mind that no highlighted document will be accepted by the MVD office.

Transfer Related Expenses

The fee for these procedures depends on the age and value of the car. The overall related expenses for the ownership change range from $27 to $62, depending on various other factors. The actual title costs $5. However, there are other related payments, and it is rare for one to only pay the actual $5.

There is usually an excise tax for a car being titled. The amount is three percent of the car’s sale price. If the car is a gift, you must provide a notarized affidavit to avoid the excise tax fee.

Also, be sure to register the automobile within 90 days to avoid a 4.5 percent additional fee.

To Sum Up

The procedure described above is the general order of steps to take when transferring the title. The presented cases are the most common instances however there are many nuances depending on the specifics of each situation.

Each person’s car transfer may require additional forms and paperwork, depending on their situation. For example, there is a slight difference in the list of required paperwork in the case of gifting a vehicle, passing on a deceased person’s vehicle, and so on.

If your situation falls into any of these categories, you will need to make further inquiries for any additional forms required.