New Mexico Motor Vehicle Bill of Sale

What is the New Mexico Bill of Sale for Vehicle?

The New Mexico Motor Vehicle Bill of Sale form is a legal document that acts as proof of ownership transfer of a motor vehicle from one party to another. It contains information about the buyer, seller, and vehicle, such as the make, model, year, and Vehicle Identification Number (VIN). It also includes the sale price, date of sale, and the signatures of both parties.

Why is the New Mexico department of motor vehicles bill of sale form important?

New Mexico bill of sale motor vehicle is a crucial document in any motor vehicle transaction as it protects both the buyer and the seller. For the buyer, it serves as proof of ownership transfer, which can be used to register the vehicle with the New Mexico Motor Vehicle Division (MVD) and obtain license plates. For the seller, it protects them from any liability arising from the vehicle after the sale.

How To Fill Out the New Mexico Motor Vehicles Bill of Sale Online

When buying or selling a motor vehicle in New Mexico, it is important to have a paper that documents the transaction. Before filling out the form, gathering all the necessary information is essential. This includes the make, model, year, and VIN number of the vehicle, as well as the selling price and the names and addresses of both the buyer and seller. Once all the information has been gathered, follow these steps to fill out the form online:

1. Begin filling out the form by entering the information about the vehicle being sold in the "Vehicle/Vessel Description" section. This includes the vehicle's make, model, year, body style, color, Vehicle Identification Number (VIN), and Odometer reading.
2. In the "Vehicle Odometer Disclosure Statement" section, enter the current odometer reading in the space provided. Check the appropriate box if the odometer reading is not the actual mileage or if the vehicle is exempt from odometer disclosure requirements due to its age or other factors.
3. In the "Dealership Name" section, enter the dealership name if the sale is occurring through a dealership. If it's a private sale, you can leave this section blank.
4. Next, you will see a section titled "Seller." Fill in the following information about the seller: full legal name, street address, city, state, and zip code.
5. In the next section titled "Purchaser," fill in the following information about the buyer: full legal name, street address, city, state, and zip code.
6. Fill in the Seller's name in the first blank space, followed by the Buyer's name in the second blank space. Ensure that you include their full legal names.
7. If there are no liens or encumbrances on the vehicle, check the box next to "The vehicle is not subject to any liens, encumbrances, or security interests".
8. In the "Date of Sale" section, enter the date the sale is taking place. Use the format "Month, Day, Year" for the date.
9. Both the seller and buyer must sign and print their names in the "Seller's Signature" and "Buyer's Signature" sections, respectively. If there is a co-seller or co-purchaser, they should also sign and date the form in the designated spaces.
10. Finally, both the seller and buyer must enter the date they signed the document in the "Date" sections provided next to their respective signatures.
11. Once both parties have signed and dated the form, print it out or save it. The seller should provide a copy to the purchaser, and both parties should keep a copy for their records.

Tips for filling out the New Mexico motor vehicle bill of sale form

Here is a handful of tips that may come in handy when filling out this document:

• Ensure all the information provided is accurate and complete to avoid delays or issues with the registration process.
• Double-check the VIN number to ensure it matches the one on the vehicle title and registration documents.
• If the vehicle has any liens, include them in the form and provide the necessary documentation.
• If you are unsure about any aspect of the form, consult a legal professional or contact the New Mexico department of motor vehicles bill of sale for assistance.