RSA 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,