Section 261:14 Transfer of Interest in Vehicle.
I. If an owner transfers his interest in a vehicle, other than by the creation of a security interest, he shall, at the time of delivery of the vehicle, execute an assignment and warranty of title to the transferee in the space provided therefor on the certificate or as the director prescribes, and cause the certificate and assignment to be mailed or delivered to the transferee or to the department.
II. Upon request of the owner or transferee, a lienholder in possession of the certificate of title shall, unless the transfer was a breach of his security agreement, either deliver the certificate to the transferee for delivery to the department or, upon receipt from the transferee of the owner's assignment, the transferee's application for a new certificate and the required fee, mail or deliver them to the department. The delivery of the certificate does not affect the rights of the lienholder under his security agreement.
III. If a security interest is reserved or created at the time of the transfer, the certificate of title shall be retained by or delivered to the person who becomes the lienholder, and the parties shall comply with the provisions of RSA 261:25.
IV. Except as provided in RSA 261:15 and as between the parties, a transfer by an owner is not effective until the provisions of this section and RSA 261:19 have been complied with; however, an owner who has delivered possession of the vehicle of the transferee and has complied with the provisions of this section and RSA 261:19 requiring action by him is not liable as owner for any damages thereafter resulting from driving of the vehicle.
Source. RSA 269-A:15. 1967, 357:1. 1981, 146:1, eff. Jan. 1, 1982.