Are you keen on selling off your car and buying a new one? Are you not sure of how the transfer of ownership will happen? A registration certificate transfer or transfer of ownership of vehicles is vital as it protects the vehicle by transferring all the legal obligations to the purchaser. Under Indian law of Motor Vehicle Act, 1988, a transfer of ownership of the vehicle is necessary to avoid any future complications that pertain to vehicle registration, insurance policies, etc. If you are planning to sell your old luxury car, connect with us at Car Giant, the best place to sell high-end cars. Know about the steps of transferring the ownership of a vehicle in detail and check out a wide range of second hand luxury cars at our showroom. Here are a few situations where transfer of ownership is required:
When you are selling off the car to another buyer
When you sell a vehicle to another buyer, the buyer's name is recorded as the registered owner, and the process is called the transfer of ownership.
Death of the owner of the vehicle
If a registered owner of a vehicle passes away, the transfer of ownership becomes effective for the legal heirs of the expired registered owner.
Transfer of ownership in auction
If your vehicle is sold in a public auction, the name of the buyer is recorded as a registered owner.
Here are some mandatory documents required during the transfer of ownership;
Age proof like birth certificate, Aadhaar card, etc
Address proof like utility bills, ration cards, etc
Tax clearance certificate
Vehicle registration certificate
Vehicle insurance documents
PAN card of the current owner
Chassis and engine number details
Mandated Documents with Form 2
NOC or official letter stating the reason for the delay in the issue of NOC, etc.
For the ultimate buying experience of second-hand luxury cars, Car Giant is the best-used luxury car dealer that provides their clients with the best of services and assists them in buying their desired luxury car. Car Giant offers superior quality pre-owned luxury vehicles at affordable prices. Car Giant is here to assist you with a wide range of hand-selected pre-owned luxury cars belonging to premium brands. Our team will help you to cruise away with your dream car!
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