Transfer of car ownership documents
The second hand car market is a fast growing market in India. The main transactions take place directly between the buyer and the seller. Consumers should have a clear understanding of the required records and the registration process. The transfer of ownership of a used car is the process of registering a motor vehicle in the official records after verification. It is the official document to prove ownership of the vehicle and is legally required. The buyer must verify all documents and registration documents before making the final payment.
The following documents are required for the transfer of ownership of a used car.
Registration Certificate Book:
You can check with the Regional Transport Office for its authenticity. Check the Registration Status mentioned in the Book. The registration state must match the state where you plan to use the car. If the registration state is different, you should ask the seller about transferring the registration from one state to another. Transferring property from one state to another is a tedious and expensive process. It is advisable to buy a used vehicle registered in the same state where you plan to use it.
Road tax:
Road tax is legally required in India. The consumer has to spend only a small amount of money for this tax. The buyer must collect the tax receipts. If it is not paid, the buyer can ask the seller to settle the outstanding payment.
Sure
It is the vital document for any car. Insurance documents are required for transfer of ownership by the Regional Transportation Office. Check the amount of the insurance premium and its expiration date. You must transfer the insurance papers to your name.
original invoice
Collect the original invoice of the car from its owner. You can check the details like engine number, chassis number, car dealer and vehicle warranty details etc.
Pollution Control Certificate
It is also a necessary document for used car registration transfer.
Certificate of conformity
The seller can buy your car on loan. In this case, collect the Certificate of No Objection from the financial institution. Personally Check the original document and collect the photocopy of the document. This document is a record to show that the lender no longer has any interest in the car.
Form No.35
Upon termination of the financing contract, the link must be eliminated by submitting Form No.35. You must collect this form duly signed by the financial institution.
Other required forms and documents are:
– Form No. 29 – Request for Transfer of Ownership of Motor Vehicle.
– Form No 30 – Notice of Transfer of Ownership of a Motor Vehicle.
– Model 29 and 30 to be signed by both the seller and the buyer.
– The impression of the vehicle’s chassis number must be presented.
The following copies of the document signed and verified by a notary public are required:
– PUC Certificate (Pollution under control)
– Proof of identification and address of both buyer and seller (if the address does not match the registration certificate, a separate affidavit is required)
– Buyer’s PAN card
– In case of not having a PAN Card, Form 60 (Declaration Form of person who does not have PAN) must be submitted.
After completing the purchase of the used car, the previous owner must inform the Regional Transportation Office of the change of ownership of the car. Within 30 days, the new owner must inform the local Regional Transportation Office of the purchase of their vehicle. The car must be physically presented at the Regional Transport Directorate together with the valid documents for the endorsement of ownership in your name.