Does New Mexico Require a Bill of Sale?
The New Mexico Bill of Sale is a general name used to denote a group of documents filled out during the sale or purchase of different types of items. It traditionally contains basic essential information about the deal, including the names and contacts of both the seller and the buyer, description of the sold item, sales price, date of sale, and signatures of both parties. The document can be used to sell all kinds of property from cars to cell phones. It serves as written evidence of the sale that can be used even in the court of law. The document is usually prepared by the seller in two original copies. One of the copies goes to the buyer, and the seller keeps the other copy.
New Mexico Bills of Sale are generally subdivided into three main types:
- Generic. This document is used to record the details of the personal property sale or in the case when no specific form is available. The State does not provide its residents with any official form they can complete to record their deals in this case;
- Vehicle/Boat. The New Mexico Taxation and Revenue Department issued Form MVD-10009, Bill of Sale you have to complete in order to document the sale of watercraft or a car in the state of New Mexico;
- Firearm. Complete this form to document the sale of all kinds of firearms in New Mexico. The state authorities do not provide any official form you have to complete in order to have written proof of your deal.
A Bill of Sale in New Mexico is not a required document. However, if you sell your boat or vehicle, and the information you provided on Form MVD-10002, Vehicle Title and Registration Application or Form MVD-10003, Application for Vessel Title and Registration does not include the sales price, odometer disclosure, all required signatures, and proper assignment, you must fill out Form MVD-10009. Be aware, that the form numbers and names mentioned in the instructions for the MVD-10009 are outdated.
Though a Bill of Sale in New Mexico is not required, both parties of the deal often prefer to complete it anyway. The sellers keep this document as proof that releases them from the responsibility for the sold item and its use since the date indicated in the document. The buyers use it as the purchase receipt and as proof that they are now the new owners of the described item. Very often, the document is signed when there are additional terms of sale, like payment in several installments, late payment, late delivery, or any others. In this case, both parties usually prefer to record the terms they agreed upon. If properly completed and containing the necessary information, this document is accepted by all government organizations as valid evidence of the sale.
Fill out this document to record the details of a vehicle sale in the state of New Mexico. The same form is used to document the transfer of a vessel. It is the official State of New Mexico Bill of Sale.
The State of New Mexico does not offer an official Generic form. Download this general form used to record the transfer of any kind of personal property from the seller to the buyer. This form provides essential information about the deal, its participants, and the transferred item.
Fill out this New Mexico document completed by the seller and the buyer in order to have a written record of the firearm transfer form one party to another. This form contains the most essential information about the deal, e.g. the names of the parties of the sale, description of the sold firearm, sales price, date of sale, and signatures of both parties.