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Old 23rd August 2007, 16:43   #1
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Default 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??
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Old 23rd August 2007, 17:28   #2
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Check the advice section on the entire process:
http://www.team-bhp.com/forum/buying...car-india.html

Quote:
Documentation: Carefully check a car’s original documentation for discrepancies. This is also a good time to go through the car’s service history to see how it has been maintained – service records are very important. Some documents that you should verify include:
1. RTO tax receipt: This is now a one-time tax and the original owner should pay it.
2. Registration of the car: Check for the state of registration and see if the letters “DRC” appear on it anywhere. DRC means Duplicate Registration Certificate.
3. Insurance: Check whether the insurance is comprehensive or basic third-party and when it will expire.
4. Original invoice: Take a look at the car’s original invoice. Details like the chassis and engine numbers can be found here.
5. Finance NOC: If you are looking at a financed car, make sure that the NOC is available.

Delivery Note: When taking delivery of the car, record the date, time and odometer reading on the Delivery Note. This will ensure that any outstanding liabilities on the car prior to that date will be the seller’s responsibility.
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Old 23rd August 2007, 17:29   #3
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Hi Max, Whether you are buying or selling, the list would be the same as Adya has outlined in his article.

Please check over at that link. This thread is closed.
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Old 23rd August 2007, 17:33   #4
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http://rto.kar.nic.in/list-procedures.htm

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.
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Old 23rd August 2007, 17:41   #5
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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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