Transfer of Car Ownership Documents
The secondhand car market is a fast growing market in India. Major transactions take place directly between the buyer and the seller. Consumers should have clear knowledge on necessary records and the registration process. Used car ownership transfer is the process of recording a motor vehicle in the official records after verification. It is the official document to prove your ownership of the vehicle and is legally mandatory. Buyer has to check all documents and registration papers before making the final payment.
Following documents are necessary for the transfer of used car ownership.
Registration Certificate Book:
You can consult with the Regional Transport Office for its authenticity. Check the State of Registration mentioned in the Book. State of registration should match the state where you plan to use the car. If the state of registration is different, you should consult the seller regarding transfer of registration from one state to another. Ownership transfer from one state to another is the tedious and money consuming 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 mandatory in India. Consumer has to spend only small amount of money for this tax. Buyer should collect the tax receipts. If it is not paid, buyer can request the seller to clear the outstanding payment.
Insurance
It is the vital document for any car. Insurance papers are mandatory for ownership transfer by Regional Transport Office. Check the insurance premium amount and its due date. You should transfer insurance papers to your name.
Original Invoice
Collect the original invoice of the car from its owner. You can check the details like engine no, chassis no, car dealer and vehicle pledge details, etc.
Pollution Control Certificate
It also a needed document for the transfer of used car registration
No Objection Certificate
The seller may buy his car on loan. In that case, collect the No Objection Certificate from the finance company. Personally Check the original document and collect the document photocopy. This document is a record to prove that the lender has no claim over the car anymore.
Form No.35
On the termination of the finance contract, lien should be removed by submitting Form No.35. You should collect this form duly signed by the financier.
Other Required Forms and Documents are:
– Form No 29 – Application for Transfer of Ownership of a Motor-Vehicle.
– Form No 30 – Notice of Transfer of Ownership of a Motor-Vehicle.
– Form 29 and 30 to be signed by both seller and buyer.
– Imprint of vehicle chassis number should be submitted.
Following copies of document signed and verified by Notary Public are required:
– PUC (Pollution under control) Certificate
– ID and Address proof of both buyer and seller (If address does not matches with Registration Certificate,separate affidavit is required)
– PAN card of the buyer
– If PAN Card is not available Form 60 (Form of Declaration by a person not having PAN) should be submitted
After the completion of the used car purchase, previous owner should inform the Regional Transport Office regarding the car ownership change. Within 30 days, new owner should report to the local Regional Transport Office regarding his vehicle purchase. The car should be physically presented at the Regional Transport Office along with valid documents for the endorsement of ownership in his name.