A New Mexico bill of sale is an important document that acts as proof of the transaction between two parties or the seller and the buyer. It can also be defined as a document that transfers ownership of goods from one person to another. Its use is done when a former owner of the material transfers possession to a new owner. In this situation, the material or the goods being transferred/sold could be a motor vehicle/boat/gun or general purchase. It can be presented by the buyer as a document proving he/she legally possesses the item described in the BOS. Some of these bills of sale need to be notarized in the state of New Mexico. For cars and boats, New Mexico will demand the original BOS. The profit that a Bill gives the seller is that it becomes easy for him/her to report taxing. The benefit of the buyer is that he/she gets proof of ownership and the warranty information. The state website shall be checked to review that the bill is correct and filled out with all the appropriate information. In cases like these, the bill should be signed in the presence of a registered notary public. The buyer and the seller shall keep several copies of the complete Bill as it might be needed in the future as proof of ownership of the described item.
There are some really important things that every type of BOS should contain. This is the information that is necessary for every BOS excluding the special information that will be discussed further in their respective types. Let’s take a look at the basic information first:
- At the top of the page, there should appear the date of the transaction.
- The legally registered full name of the seller.
- The current address of the seller.
- The legally registered full name of the buyer.
- The current address of the buyer.
- The detailed description of the item/material/goods being transferred.
- It should be mentioned on what terms the sale is being made which indicates whether the transaction is a gift, trade or being sold for a monetary value.
- If the goods are being traded, a description of all associated items is expected.
- If the goods are being sold for a monetary value, then the exact amount must be displayed. The amount should first be written in words and then in number form.
- The date on which the buyer will pay for the item should also be mentioned.
- The disclosure of the seller confirms that the seller has the right to sell the item. The section shall state the quality of the item, warranty if there is one
- There should be a signature of both, the buyer and the seller with the date mentioned.
- The signatures shall be done at the end of the BOS conveying that both the parties involved in the transaction agree to the mentioned terms for the sale of the respective item in the bill.
New Mexico Bill of Sale for a Motor Vehicle
This BOS acts as proof of the sale of a motor vehicle by the buyer to the seller. This is one of the important documents of one’s car. In New Mexico, this bill needs to be notarized. It is also required to register a motor vehicle in the state of New Mexico. This bill shall contain the model, year, make and body type of the vehicle being sold. It should have the VIN (Vehicle Identification Number) mentioned in it. There are some more things that are necessary like the License Plate number, an odometer reading, and actual mileage that the bill must have.
New Mexico General Bill of Sale
This Bill is used when a transaction of an item is done that does not classify as a boat, a car or a gun. The main purpose of it is just to be used as a personal record. It does not need to be notarized. Most of the time this bill is used to show a transaction of furniture or electronic appliances. The item is defined using some of the terms like serial number, registration number, make, model, year, color, size, material, descriptive factors.
New Mexico Bill of Sale for Boat
This bill is used when the item in the transaction is a boat or classifies as a boat legally. This bill requires to be notarized in the state of New Mexico. This document is not necessary for the registration of a boat in New Mexico. It should have the registration number and title number. This should be followed by the Hull ID. There should be a mention of the make, year of creation and length of the boat. The type of construction, title number and the serial number of the outboard motor should also be specified. Some additional information includes horsepower of the motor of the boat being sold, the license number of the driver of both the buyer and the seller.
New Mexico Bill of Sale for a Gun
This bill is used when the item in the transaction is a gun or can be classified as a firearm legally. This BOS does not need to be notarized in the state of New Mexico. The bill shall contain the make, model, and the serial number of the firearm. The caliber of the gun shall also be mentioned. If the transaction is a trade and not a sale then the bill shall involve the same above mentioned information (make, model, serial number, caliber). Firearms are not registered in the state of New Mexico.
New Mexico Motorcycle Bill of Sale
When is motorcycle is purchased or traded and its legal transaction needs to be recorded then this BOS is used. This BOS requires the signatures of the buyer and the seller in the witness of a notary. The Bill needs to have the VIN, license plate number and odometer reading of the motorcycle being purchased or traded.
New Mexico Trailer Bill of sale
It is used to transport goods or materials. The purchase of a trailer needs to legally recorded in the state of New Mexico by a BOS. This bill requires the notarized signatures of the buyer and the seller. The bill shall have a good description of the trailer including its number, type, and color. This bill of sale needs to be produced when demanded by the law.
New Mexico DMV Bill of sale
This BOS is used when the material being purchased or traded is a vehicle. DMV stands for Department of Motor Vehicles. This bill needs to the name, address and signatures of the buyer and seller in the witness of a notary. The bill shall include the VIN of the vehicle, its license plate number. Some of the other things the bill shall contain about the vehicle is its name, body type, and model. This bill needs to be preserved in the form of several copies with the buyer and the seller and produced whenever lawfully demanded.
Auto Bill of sale New Mexico
This Bill is used when the material being purchased or traded is a vehicle. This bill needs to the name, address and signatures of the buyer and seller. The bill shall include the VIN of the vehicle, its license plate number. Some of the other things the bill shall contain about the vehicle is its name, body type, and model. It is also required to register a motor vehicle in the state of New Mexico. In New Mexico, this bill needs to be notarized.