New Mexico Release of Lien for Vehicle
Description
How to fill out Release Of Lien For Vehicle?
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FAQ
A lienholder will only remove a lien after the loan debt has been paid off. After the loan has been paid off, the lienholder will send you one of the following: A completed ?Release of Lien? form, on Motor Vehicle Division (?MVD?) of New Mexico letterhead. A completed ?Release of Lien? section on the vehicle title.
A person or company may claim an ?Abandoned Vehicle Lien? on a vehicle that was abandoned on their property and left for an unreasonable period of time, generally at least 30 days. The vehicle must be in New Mexico and in the lien claimant's possession.
New Mexico is a 'Vehicle Plate to Owner' state.
The New Mexico Mechanics Lien Release Form is used to cancel a lien that has already been filed. It's most often used to release a lien claim after a lien claimant receives payment. However, they may also be released based on settlements, legal controversies, because they expired, or more.
TO COMPLETE THE NOTICE OF VEHICLE SOLD BY MAIL: Please complete and print the Notice of Vehicle Sold Form. Mail the completed form to: Motor Vehicle Division. Attn: Sold Unit. P.O. Box 1028. Santa Fe, NM 87504-1028.
Once your car loan is completely paid off, obtain a car title lien release from your lender so your state BMV or DMV can put the car title in your name. The lien removal process varies by state and typically involves completing paperwork and paying a fee for the new car title.
