What Is the Best Way to Transfer Car Ownership?
It can take a long time to sell an automobile. Even if locating a possible buyer has grown easier (thank you, internet! ), the process of transferring ownership of your car to the new owner still exists. Simply explained, car ownership transfer is the process of transferring ownership of your vehicle to another person (buyer in this case). This method substitutes your name on your vehicle's registration certificate with the buyer's. When is it necessary to transfer ownership of a vehicle? Only the following situations necessitate the transfer of car ownership: Sale as usual. The owner has died. Vehicle purchased in a public auction. Furthermore, this transfer can take place either within your own state or across state lines. But, whatever the cause, there are a few documents that must be filed to your local RTO in order to complete the car ownership transfer. Documents Needed to Transfer Car Ownership Registration certificate (RC) - The seller's original registration certificate (RC). It's also possible that the RC is a smart card. Address proof documents include the most recent utility bill (electricity, telephone, water, gas, and so on), as well as any KYC document containing the permanent address. Auto Insurance Certificate - The vehicle's valid car insurance certificate. PAN - Both the seller's and the buyer's PAN. PAN is only required if the car's sale price is Rs. 50,000 or more. PUC Certificate - Pollution under Control certificate that is valid. For automobiles purchased before April 2010, PUC must be renewed every three months. The PuC must be renewed every year for automobiles purchased after April 2010. Form 28 -Application for and receipt of a No Objection Certificate (Form 28). Before selling a car, you'll need to fill out Form 28 to get a No Objection Certificate from your local RTO. It is only required in the event of an interstate transfer of ownership. In Maharashtra, however, it is required upon an intrastate transfer of ownership. This form, together with other essential documents, must be filled out completely and submitted to the RTO (registration certificate, insurance certificate, PuC certificate, address proof, etc.). When applying for a NOC, you will have to pay a charge. The RTO will notify the local police station to confirm that no illegal cases against your vehicles are currently underway. Form 29- The RTO will grant you a NOC after they have completed their investigation. Notice of transfer of ownership of a motor vehicle. Form 30 - Intimation and transfer of ownership of a motor vehicle application. Form 31 - Application for transfer of ownership in the name of the person who will take over the vehicle's possession. Form 32 - Transfer of ownership application in the case of a motor vehicle purchased or acquired at a public auction. Form 35 - Notice of termination of a hire-purchase, lease, or hypothecation agreement. If the vehicle to be transferred is currently hypothecated to a bank, Form 35 is required. You may also be required to fill out an acknowledgement form from the NCRB (National Crime Records Bureau). If your car was involved in any criminal actions, you must fill out this form. Transferring Car Ownership Costs: The cost of transferring ownership of a car varies depending on the Regional Transport Office (RTOs). It may also vary depending on the age of your vehicle. The cost of transferring ownership of an automobile might range from as little as Rs. 300 to as much as Rs. 2,000 or more. Offline Procedure for Transferring Car Ownership The following are the steps involved in transferring your car ownership offline: Step 1: Notarize the Sale Agreement. The first step is to notarize the sale agreement. This contract specifies the amount to be paid for a sale as well as the status of the ownership transfer. An agreement of sale contains information such as: Payment method (cheque, DD, etc.) Certificate of registration Insurance The vehicle's condition Step 2: Complete the required paperwork and submit it. Both parties must sign Form 29 (two copies) and Form 30 (one copy) and submit them to the local RTO when the payment has been made. If the car is still under hypothecation, Form 35 must also be submitted. You'll also need to submit a bank-issued No Objection Certificate. Step 3: Provide the Required Documents You must give the buyer documentation such as the registration certificate, insurance certificate, PUC certificate, and so on. You are not required to hand up your vehicle's invoice. Step 4: Submit an application for a Certificate of Clearance. The buyer must next apply to the RTO for a clearance certificate. To obtain this certificate, he or she must submit a requisition letter, as well as a self-addressed envelope with stamps and the documents acquired from you. This method may vary depending on the states and RTOs. In this step, a buyer may be required to submit extra paperwork. He or she must attest all documents with the RTO head before submitting them to the office. This submission will be accompanied by an acknowledgement document from the RTO. The clearance certificate will be mailed to the customer after the application is approved. Step 5: File an application for ownership transfer with the new RTO. The buyer must then pay the new RTO the ownership transfer charge. Two payment receipts will be sent to him, which must be attached to the following documents: Certificate of PAN Registration Certificate of clearance Insurance PUC certificate Form 29 as evidence of address (two copies) Self-addressed envelope with stamps Form 30 Photograph the size of a passport After submitting these papers, he will receive an acknowledgement form. He will receive a new registration certificate in the mail. It should be noted that if the submission of Forms 32 and 35 is required, further processes may be necessary. Online Process: You can also transfer car ownership online through the Ministry of Road Transport & Highways' ParivahanSewa website. It's worth noting that you'll need to apply for a transfer of ownership in the buyer's favour. This procedure also includes certain offline phases. To transfer car ownership online, visit this website and follow the processes outlined below: Step 1: Select "Vehicle Related Services" from the "Online Services" tab. Step 2 - Click "Proceed" after entering your vehicle registration number. Step 3: Select Miscellaneous (TO/CoA/HPA/HPS/HPT/DupRC). Step 4: Enter your phone number and press the "Generate OTP" button. Step 5 - Enter the OTP and select "Show Details" from the drop-down menu. Step 6 - Under "Application Selection," choose "Transfer of Ownership." Step 7 - Fill in the following information under "Transfer of Ownership Details": Information about the new owner. Address as of now. This is your permanent address. Information on insurance. Step 8 - Go to "Payment" and pay the required fee. After the fee for changing car ownership online is paid, two payment receipts, as well as Forms 29 and 30, will be generated. Step 9 - The hard copies of these documents must be signed by all parties. Step 10 - Original registration certificate, copy of insurance policy, PUC, and other documents must also be submitted to the new RTO, either physically or via mail. Following satisfactory verification of these documents, the buyer will get a new registration certificate in the mail. If there are any anomalies, the RTO head may contact the buyer and seller and request that they appear before him for verification. What are the Consequences of Not Changing Ownership of a Car? If the ownership has not been transferred, any traffic offences committed by the buyer will be directed at you. If you haven't transferred ownership of your vehicle, you'll be pulled into legal issues unnecessarily. As a result, even if transferring vehicle ownership is a lengthy and time-consuming process, it is usually best to do it during a sale. What more is required in addition to the transfer of car ownership? In some states, the following documents may be required: Pencil drawing of the chassis and powerplant. In the event that the car owner dies, proof of succession is required. If the transfer of ownership occurs as a result of a public auction sale, the buyer must sign an undertaking.