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New Mexico Statutes Chapter 66. Motor Vehicles § 66-3-10.1. Salvage vehicles; nonrepairable vehicles; certificate of title; transfer of ownership

Current as of January 01, 2024 | Updated by Findlaw Staff

A. It is unlawful for a person to sell or otherwise convey ownership of a salvage or nonrepairable vehicle unless the certificate of title or ownership is branded or a comparable title, certificate or ownership document has been issued by another state or jurisdiction.

B. An owner of a nonrepairable vehicle shall sell or otherwise convey that vehicle only to a licensed wrecker of vehicles or a person licensed by a jurisdiction outside of this state to process vehicles by dismantling, wrecking, shredding, crushing or selling motor vehicle parts or scrap material or otherwise disposing of motor vehicles.

C. A nonrepairable vehicle shall not be repaired, reconstructed or restored for operation on the roads or highways of this state.

D. This section does not apply to:

(1) a person whose motor vehicle has been stolen or taken without that person's consent unless, if the motor vehicle is recovered, it is a salvage or nonrepairable vehicle; or

(2) a person conveying ownership of a motor vehicle to an insurance company as a result of a total loss insurance settlement. For the purpose of this paragraph, “total loss insurance settlement” means the transfer of ownership of a motor vehicle by a person to an insurance company as a result of a settlement in which the motor vehicle is determined to be salvage or nonrepairable.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 66. Motor Vehicles § 66-3-10.1. Salvage vehicles; nonrepairable vehicles; certificate of title; transfer of ownership - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-66-motor-vehicles/nm-st-sect-66-3-10-1/

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