27 April 2022
It is mandatory to change the vehicle owners in case you are selling the car, the owner of the car has passed away, or putting the car for auction. Transferring the authority to the new owner is a necessary formality. Otherwise, any issue with the vehicle will be your responsibility. This includes a crime committed using the car.
Earlier it was the responsibility of the buyer to get the ownership transferred. Nonetheless, it had led to complications and problems. Especially when the new owner didn’t transfer the ownership and used the car for unauthorized activities.
The situations wherein you will have to transfer the ownership include:
The vehicle transfer formalities within the state and interstate are different. The laid down procedure has to be complied with for completing the transfer process.
Are you confused about car selling or exchange? Refer to this guide on car selling or exchange.
The documents stated by the authorities for complying with vehicle transfer would fifer according to the situation.
The legal heir can take over the car when the owner passed away. However, he or she should complete the transfer formalities to become the owner of the car officially. Non-transfer can create problems in future, including complications during the sale of the car.
The additional documents needed for commercial vehicle transfer are:
Want to get the best price for your car while selling, refer to this blog to know factors that improve the resale value of your car.
Although easy online vehicle transfer is available, many use the offline method even today.
Preparation of Sales Agreement by an Authorized Notary – The notary will prepare a sale agreement, normally in the standard format pursued by all. The agreement would state the details of the vehicle, mode of payment, present condition of the car, data on the car insurance, RC status and other relevant info. Never be in a hurry and sign the document. You should endorse your signature on the agreement only after the receipt of the payment agreed upon with the buyer.
Clearance Certificate for the Car – The authorized person in the RTO would examine the documents and put signatures on them. The buyer would get the clearance certificate within thirty days of submission. No fee has to be paid for the clearance certificate for the car.
Apply for Transfer of the Ownership – Apply for car ownership transfer, attaching all the documents we stated above. The transfer would be completed within thirty days from the date of submission. Any anomaly in the document can affect the ownership transfer. In that case, both the parties would be asked to visit the RTO and provide corrections or clarifications. Additional documents may be sought by the RTO for substantiating the claim.
Fees for Vehicle Ownership Transfer – Only a nominal fee is charged for vehicle ownership. Generally, it is below ₹500.
The internet revolution has brought several positive changes to society. Ease of submitting applications and complying with formalities online has been one of those. You need to complete some of the steps offline for online vehicle ownership also.
To discuss more on sales of used cars, vehicle transfer etc, contact us now. We make your car selling hassle-free. Visit our nearest showroom today.