Chapter 8, Section R:|
Stolen and Unrecovered Vehicles - Salvage Brand not Required
Revised March 22, 2010
“Title Only” for stolen and unrecovered vehicles
The Motor Vehicle Division may issue a “Title Only” to
an insurance company for a stolen and unrecovered vehicle. The insurance company pays only the title fee .
For issuance of title only to an insurance company for a stolen and unrecovered vehicle, the following documents are required:
To justify title-only issuance, make a notation in "Remarks" that the “Vehicle is a stolen and unrecovered vehicle."
It was previously required that an unrecovered stolen vehicle be branded salvage when the insurance company declares the vehicle a total loss and takes title to it. However, the applicable rule (220.127.116.11 NMAC) now specifies that, "A salvage-branded title need not be issued to a stolen but unrecovered vehicle."
However, if the vehicle is recovered and found to meet the statutory definition of a salvage or non-repairable motor vehicle, the owner must then obtain a salvage title or a non-repairable certificate.
If a stolen and unrecovered vehicle for which a “Salvage” title was issued is recovered at a later date, and the insurance company wants MVD to issue a title without the "Salvage" brand, the following documents are required:
In any such situation, when the salvage brand needs to be removed because a previously stolen and unrecovered vehicle has been recovered, the title transaction must be processed by the Vehicle Services unit in Santa Fe. All documentation should be delivered or mailed to Vehicle Services at the following address:
Vehicle Services, Attn: Supervisor
Motor Vehicle Division
Joseph M. Montoya Building
1100 S. St. Francis Drive
P.O. Box 1028
Santa Fe, NM 87504-1028