New Mexico Repo Laws - Repossession Laws
Repo Laws - Repossession Laws in New Mexico:
Where do I refer to for Title or License Registration?
For state Title and License Information, refer to:
New Mexico Motor Vehicle Division
P. O. Box 1028
Santa Fe, New Mexico 87504
Telephone: (505) 827-2220
Fee for search of records is $1.10.
Shown on title held by lienholder.
Uniform Commercial Code (UCC)
adopted in September, 1962: With
County Clerk in county where
property is situated or is about to
be removed. All liens on motor
vehicles must appear on certificate
As per the UCC, repossession is
allowed and permitted as long as it
is peaceful. If repossession
discussed with debtor the secured
party must give a ten day notice
otherwise peaceful repossession
contract permits repossession, sale
Title certification in lienholder's name; certified copy of contract; notarized Power of Attorney; notarized Bill of Sale.
Documents Required for Liquidation:
Title Release of Lien, Affidavit of Repossession, and Bill of Sale.
Remain with the owner / debtor. "The registered owner of the vehicle, upon transfer of ownership, is responsible for removing the license plate from the vehicle to be sold or traded in. The owner has 30 days to either place it on another vehicle of the same class or have it cancelled by the Division" From http://www.state.nm.us/tax/pubs/mvdvehicle03.htm#_Toc497115411
All recovery requirements and fees are current as of 2002.
Repo-Laws.com does not warrant the accuracy of these Repo Laws - Repossession Laws or recovery requirements. The Repo Laws - Repossession Laws or recovery requirements listed on Repo-Laws.com are only a starting point for reference, and are not meant to be legal advice or a replacement for legal console. Please consult a repo company in your area, county, or state if you have any questions about repossession there.