Sale of used or rebuilt vehicle: Duties of seller; exception; information concerning secured party; temporary placards; execution and furnishing of copy of dealer’s or rebuilder’s report of sale.
1. When a used or rebuilt vehicle is sold in this State to any person, except a licensed dealer, by a dealer, rebuilder, long-term lessor or short-term lessor, the seller shall complete and execute a dealer’s or rebuilder’s report of sale. The dealer’s or rebuilder’s report of sale must be in a form prescribed by the Department and must include:
(a) A description of the vehicle, including whether it is a rebuilt vehicle;
(b) The name and address of the seller; and
(c) The name and address of the buyer.
2. If a security interest exists at the time of the sale, or if in connection with the sale a security interest is taken or retained by the seller to secure all or part of the purchase price, or a security interest is taken by a person who gives value to enable the buyer to acquire rights in the vehicle, the name and address of the secured party must be entered on the dealer’s or rebuilder’s report of sale.
3. Unless an extension of time is granted by the Department, the seller shall:
(a) Collect the fees set forth in NRS 482.429 for:
(1) A certificate of title for a vehicle registered in this State; and
(2) The processing of the dealer’s or rebuilder’s report of sale; and
(b) Within 30 days after the execution of the dealer’s or rebuilder’s report of sale:
(1) Submit to the Department the original of the dealer’s or rebuilder’s report of sale and the properly endorsed certificate of title previously issued for the vehicle; and
(2) Remit to the Department the fees collected pursuant to paragraph (a).
4. Upon entering into a contract for the sale of a used or rebuilt vehicle, the seller shall affix a temporary placard to the rear of the vehicle. Only one temporary placard may be issued for the vehicle. The temporary placard must:
(a) Be in a form prescribed by the Department;
(b) Be made of a material appropriate for use on the exterior of a vehicle;
(c) Be free from foreign materials and clearly visible from the rear of the vehicle; and
(d) Include the date of its expiration.
5. Compliance with the requirements of subsection 4 permits the vehicle to be operated for not more than 30 days after the execution of the contract. Upon the issuance of the certificate of registration and license plates for the vehicle or the expiration of the temporary placard, whichever occurs first, the buyer shall remove the temporary placard from the rear of the vehicle.
6. To establish compliance with the period required by paragraph (b) of subsection 3, the Department shall use the date imprinted or otherwise indicated on the dealer’s or rebuilder’s report of sale as the beginning date of the 30-day period.
7. Upon executing all documents necessary to complete the sale of the vehicle, the seller shall execute the dealer’s or rebuilder’s report of sale and furnish a copy of the report to the buyer not less than 10 days before the expiration of the temporary placard.
Last modified: February 25, 2006