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|23rd August 2007, 16:43|
Join Date: Apr 2006
Location: Now Delhi, Very Often Bangalore
Thanked: 14 Times
Documents required for Sale of Motor Vehicle
I would like to know what all documents should one obtain from buyer in case of selling a vehicle to some one, so that in case of an accident or the car being used for any illegal activity the seller is safe and in clear.
I had posted this query earlier also but mods moved my thread and have not been able to find an answer to this??
|23rd August 2007, 17:28|
Senior - BHPian
Join Date: Aug 2006
Thanked: 2 Times
Check the advice section on the entire process:
|23rd August 2007, 17:33|
Join Date: Aug 2006
Thanked: 8 Times
Go through the above website, you will get a fair idea of the procedure involved.
Last edited by Su-47 : 23rd August 2007 at 17:36.
|23rd August 2007, 17:41|
Join Date: Oct 2005
Thanked: 634 Times
GTO, I think his idea about asking the question is about the documents that a seller must keep with himself to safeguard his own side. Documents like RTO tax reciepts, RC Book, Finance NOC safeguards the buyer and are given away to him.
Max, I would say you must keep a original copy of the sale deed (can be made two) that has to be countersigned by both the parties. It should clearly mention the date of sale, kms clocked on the odo, general distinguishing body marks (eg: light scratches on the left front bumper) and any other remarks besides the regular birthmarks (Eng No, Chassis No, Transaxle No, color, make, YOM).
I think that should suffice. Maybe to be doubly sure you can even get the insurance NCB transferred to your other vehicle (with the same insurer) and also submit a letter stating that you have sold your vehicle (with all its particulars) covered by insurance policy no. XYZ to such and such person on D date. Get a copy stamped from the insurance company and keep it as an acknowledgement of the forward intimation already served to the insurance company. I think that should suffice.
I can suggest a good few more things if you are still not satisfied but then you will run the risk of being branded a paranoid.
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