Source: http://law.justia.com/codes/maine/2005/title29-ach0sec0/title29-asec662.html
Timestamp: 2013-05-20 17:44:22
Document Index: 297004092

Matched Legal Cases: ['§662', '§2', '§5', '§601', '§756', '§2', '§5', '§601', '§756', '§662', '§662', '§17', '§2', '§5', '§2', '§5', '§18', '§2', '§5', '§17']

§662 — Transfer of interest in vehicle :: Chapter 7 — TITLE TO VEHICLES (HEADING: PL 1993, c. 683, Pt. A, §2 (new); Pt. B, §5 (aff)) (§601 - §756) :: TITLE 29-A — MOTOR VEHICLES (HEADING: PL 1993, c. 683, Pt. A, @2 (new); Pt. B, @5 (aff)) :: 2005 Maine Code :: Maine Code :: US Codes and Statutes :: US Law :: Justia
Justia > US Law > US Codes and Statutes > Maine Code > 2005 Maine Code > TITLE 29-A — MOTOR VEHICLES (HEADING: PL 1993, c. 683, Pt. A, @2 (new); Pt. B, @5 (aff)) > Chapter 7 — TITLE TO VEHICLES (HEADING: PL 1993, c. 683, Pt. A, §2 (new); Pt. B, §5 (aff)) (§601 - §756) > §662 — Transfer of interest in vehicle	NEW - Receive Justia's FREE Daily Newsletters of Opinion Summaries for the US Supreme Court, all US Federal Appellate Courts & the 50 US State Supreme Courts and Weekly Practice Area Opinion Summaries Newsletters. Subscribe Now
2005 Maine Code - §662 — Transfer of interest in vehicle
View Current Version 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
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.[1997, c. 437, §17 (amd).]
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.[1993, c. 683, Pt. A, §2 (new); 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.[1993, c. 683, Pt. A, §2 (new); 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.[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.[1993, c. 683, Pt. A, §2 (new); Pt. B, §5 (aff).]
§B10 (AMD).
Ch. 437,
§17,18 (AMD).