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Does a bill of sale have to be notarized in New Mexico? No. A bill of sale for a private party vehicle transfer does not need to be notarized in New Mexico.
The circumstances for gifting a car vary depending on the owner and the recipient. YourMechanic notes that it's common to gift a car to a family member who's just obtained their driver's license. The owner may have purchased a new car, and gifting to a family member is the easiest way to get rid of their old one.
You will need a notarized New Mexico Powers of Attorney (MVD-10037; or notarized generic POA) signed by all owners listed on the title. If you have a lien on the vehicle you will need a lien release. You will need to fill out the Application for Duplicate Certificate of Title form which can be found at your MVD.
How to Write a Vehicle Gift Letter?The top of the page should include your organization's letterhead with an address and contact information.In bold, the title of the page should read, "Affidavit of Gift of Motor Vehicle" or "Vehicle Gift Letter."More items...
You must own the vehicle outrightYou can't gift a vehicle or transfer its title unless you own it outright. So, if you still owe money on a vehicle, you'll have to wait to gift it until you pay it off. If the vehicle is paid off, contact your bank or dealer's lending department to confirm the full payment.
Transferring Titles To A Family Member In New Mexico You must submit an Affidavit of Gift of Motor Vehicle or Boat form. Enter the sale price as zero. From there the process is the same for titling and registration. The gift is considered a sale in that sense, and there is no excises tax to be paid.
If you're gifting a car in New Mexico, you will need to transfer the 200b200bCertificate of Title to the gift recipient. The giftee must then take the current title with the Assignment of Title filled out, as well as an Odometer Disclosure Statement to the MVD and pay a $5 fee.
In order to register and transfer a car title, you will need proof of identity and a drivers license will suffice. You will need proof of residency, such as mail addressed to you or a utility bill, and you will need proof of car insurance. You will need the title itself, signed by the seller.
A Gift Affidavit is a legal document used to prove that an item was given to someone as a gift. In a Gift Affidavit form, the person giving the gift (known as the donor) swears that an item is being gifted to the recipient (known as the donee) and that no payment is expected in return.