Maine Revised Statutes Title 29-A Sec. 662 – Transfer of interest in vehicle
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1. Transfer of interest by owner. If an owner transfers an interest in a vehicle, other than by the creation of a security interest, the owner shall execute, at the time of delivery of the vehicle, an assignment and warranty of title to the transferee in the space provided on the certificate or as the Secretary of State prescribes. The warranty must include the odometer information required by section 752.
The owner shall deliver the certificate and assignment to the transferee or to the Secretary of State.
Except as provided in section 664?A, an owner must provide the transferee with a properly released certificate of lien if one was issued to a lienholder.
A transferee other than a dealer licensed under chapter 9 shall obtain a title in the transferee’s name before transferring the vehicle to another person.
The Secretary of State may accept an application in lieu of a title when the application is accompanied by a prior title.
[PL 1997, c. 437, §17 (AMD).]
Terms Used In Maine Revised Statutes Title 29-A Sec. 662
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Dealer: means a person engaged in the business of buying, selling, exchanging or offering to negotiate, negotiating or advertising the sale of, a vehicle and who has:
A. See Maine Revised Statutes Title 29-A Sec. 602Lien: A claim against real or personal property in satisfaction of a debt. Lienholder: means a person holding a security interest in a vehicle. See Maine Revised Statutes Title 29-A Sec. 602 Owner: includes , but is not limited to, a person entitled to use and possess a vehicle subject to a security interest in another person, but excludes a lessee under a lease not intended as security. See Maine Revised Statutes Title 29-A Sec. 602 Person: means an individual, corporation, firm, partnership, joint venture, association, fiduciary, trust, estate or any other legal or commercial entity. See Maine Revised Statutes Title 29-A Sec. 101 Security agreement: means a written agreement that reserves or creates a security interest. See Maine Revised Statutes Title 29-A Sec. 602 Security interest: means an interest in a vehicle reserved or created by agreement and that secures payment or performance of an obligation, including, but not limited to, the interest of a lessor under a lease intended as security. See Maine Revised Statutes Title 29-A Sec. 602 State: means a state, territory or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico or a province of the Dominion of Canada. See Maine Revised Statutes Title 29-A Sec. 602 Traffic: means pedestrians, ridden or herded animals, vehicles, bicycles and other conveyances either singly or together using public way for travel. See Maine Revised Statutes Title 29-A Sec. 101 Vehicle: means a vehicle, as defined in section 101, or the body or chassis of any vehicle that is to be dismantled, scrapped or rebuilt. See Maine Revised Statutes Title 29-A Sec. 602
2. Delivery of certificate by lienholder. Unless the transfer was a breach of the security agreement, upon request of the owner or transferee, a lienholder in possession of the certificate of title, certificate of salvage or certificate of lien shall deliver a certificate to the transferee or, upon receipt of the assignment, the application for a new certificate and the fee, the lienholder shall deliver them to the Secretary of State. The delivery of the certificate does not affect the rights of a lienholder.
[PL 1993, c. 683, Pt. A, §2 (NEW); PL 1993, c. 683, Pt. B, §5 (AFF).]
3. Retention. If a security interest is reserved or created at the time of the transfer, the certificate must be retained by or delivered to the lienholder. The parties shall comply with sections 701 and 752.
[PL 1993, c. 683, Pt. A, §2 (NEW); PL 1993, c. 683, Pt. B, §5 (AFF).]
4. Transfer effective. Except as provided in section 664?A and between the parties, a transfer by an owner is not effective until the provisions of this section and section 665 have been fulfilled and the required fees have been paid. An owner who has delivered possession of the vehicle and has complied with this section and section 665 is not liable thereafter as owner for damages resulting from operation of the vehicle.
[PL 1997, c. 437, §18 (AMD).]
5. Transfer to dealer. When a dealer licensed under chapter 9 acquires a vehicle, the dealer must possess a transfer form in accordance with section 752 for the transfer of that vehicle to the dealer and that transfer form must state the odometer reading, the names of the transferors and the name of the dealer as transferee. A dealer who violates this subsection commits a traffic infraction. A minimum fine of $200 must be adjudged for each infraction. This forfeiture may not be suspended.
[PL 1993, c. 683, Pt. A, §2 (NEW); PL 1993, c. 683, Pt. B, §5 (AFF).]
SECTION HISTORY
PL 1993, c. 683, §A2 (NEW). PL 1993, c. 683, §B5 (AFF). PL 1995, c. 65, §§A153,C15 (AFF). PL 1995, c. 65, §B10 (AMD). PL 1997, c. 437, §§17,18 (AMD).