Chapter 8, Section L:|
Vehicles Purchased at Auction
Created August 13, 2008
New Mexico Auctions
- If the first assignment on a New
Mexico title shows a New Mexico dealer and there are subsequent
assignments to a New Mexico auctioneer, the auctioneer can assign
the New Mexico title to an individual purchaser. The auction firm
does not have to apply for the title in the name of the auction.
- The auction firm also does not
have to apply for title in the name of the auction, if the
auctioneer is acting on behalf of the owner or representative of an
estate and has documentation signed by the owner or
representative authorizing the sale.
- An out-of-state auctioneer may
also assign the out-of-state title to a New Mexico individual
purchaser without converting title into the auction name. The
New Mexico purchaser shall then apply for a New Mexico title.
Follow the requirements in
Chapter 3A or
Chapter 4A for titling and
registering a new or used vehicle. Also required specifically for
auction-to-buyer title transactions:
- If the auctioneer/seller is acting on behalf of the owner or
representative of an estate, documentation signed by the owner or
representative authorizing the sale is required.