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Sold Vehicle!

Posted by Rekha PrasadcloseAuthor: Rekha Prasad Name: Rekha Prasad
Email: rekha@legalcrystal.com
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ENSURE YOU DONT OWN IT

Vehicles Sellers Beware: See to it that Transfer is Recorded

[News you can Use] 

If you have sold your vehicle, dont forget a critical part of the transaction. Transport department officials say every day they encounter cases where people complain that though they have sold their vehicles, they still get notices for traffic violations.

That happens because in most cases, the old vehicle continues to be registered in the sellers name as many are only interested in the monetary transaction.

SELLERS RESPONSIBILITY

Its the sellers responsibility to ensure the transfer of ownership is noted in the registration certificate of the vehicle. In several instances, even educated people sell their ve4hicles without the necessary paperwork and end up in trouble later.

The most common complaints are about traffic violation tickets. These are generated by computers which picks up the address from the transport department records. If a person has not notified the change in ownership to the department, hell continue to receive the notices even though he may have sold the vehicle years ago. Officials say the trouble gets worse if the vehicle is involved in an accident or used for nefarious activities. Even though cases of terrorist activities have not been reported, officials say there are chances that people who buy a vehicle may use it for unethical purposes.

INTIMATE RTO

When a vehicle is sold, it is mandatory on the part of of transferor(seller) to intimate the Regional Transport Officer concerned by sending Form 29 and Form 30 in duplicate. Even the transferee should apply and obtain transfer of ownership within 14 days of the transaction. The delivery note or sale receipt has no relevance as far as Section 50 of the Motor Vehicles Act is concerned.

Transport department officials also said the transaction will be recorded only when both seller and buyer intimate the RTO.

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You are free to share here – If you or your friend/relative had any bitter experience of having sold the vehicle without following proper procedure.