Updated on April 4th, 2022
The New Mexico boat bill of sale is used to mark the transfer of ownership of a boat from a seller to a buyer. When registering a vessel with the New Mexico MVD, new boat owners will be required to show proof of ownership. If the Boat Certificate of Title is missing information (namely, the purchase price and reassignment) or the assignment section has insufficient space, the parties can complete this bill of sale to indicate that the buyer is indeed the new owner. The completed form also serves as a record of the transaction, and the cost of the purchase displayed therein will be used to calculate the excise tax that the new owner must pay (5%).
New Mexico Boat Registration/Titling
All boats are required to be registered in New Mexico once ownership has transferred to a new party, and all boats over ten (10) feet must be titled. Both registration and titling should occur before thirty (30) days have elapsed to avoid late penalties. Applicants can navigate to the New Mexico MVD Online Services portal to carry out a pre-application. Alternatively, the applicant can complete a physical Application for Vessel Title and Registration (MVD-10003). Because, in this case, it is a new registration and not a renewal, the individual will have to visit an MVD office to complete the application process in person with the following in hand:
- Proof of ownership (Bill of Sale or reassigned previous Boat Certificate of Title);
- One (1) piece of proof of identity;
- Two (2) proofs of New Mexico residency; and
- Application for Vessel Title and Registration (MVD-10003).
At the MVD office, the registrant will be required to pay a titling fee of $10, excise tax, and the registration fee (listed below).
- Less than 16 ft long – $28.50
- 16 ft to less than 26 ft long – $36.00
- 26 ft to less than 40 ft long – $43.50
- 40 ft to less than 65 ft long – $51.00
- Over 65 ft – $66.00