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Precautions to take if i sold bike but ownership is still in my name
19-Jul-2023 (In Civil Law)
Respected Sir / Madam, I sold a vehicle in 2011 by form29,30,delivery note and sale receipt,But later buyer has sold that bike to some other person without transferring the documents. When I came to know that as per rto still i am the owner, I wrote a letter to rto stating that if anything happens/occurs using that 2 wheeler buyer will be held responsible and got it signed from rto. Still I see that bike is registered in my name and violation receipts are issued to my address. What can I do in this case?
It is the primary responsibility of the seller of the vehicle to see that the sale transaction of the vehicle is registered with the jurisdictional RTO. Merely writing a letter to the RTO informing them that the vehicle has been sold is not sufficient. Proof of sale is called for. The buyer himself may approach the concerned RTO get the transaction registered by paying fees. If the sale transaction is not registered, law does recognise only the registered owner and held him responsible for any violation of traffic or other rules of Motor Vehicle Act.
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Raghavendra Rao B.K.
Bangalore | 200+ Answers
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Sir,
The ownership of the vehicle must be trasferred immediately after sale of the vehicle, irrespective of signing form no.29, 30 and also you have to issue proper sale receipt andd delivery note duly mentioning the day, date and time of delivery of the vehicle to the new owner. You must insist the purchaser of the vehicle to transfer within specified period. The risk is that in case of any accident , if insurance is not covered, then the RC holder is liable to pay the entire compensation.
Thanks and regards
The ownership of the vehicle must be trasferred immediately after sale of the vehicle, irrespective of signing form no.29, 30 and also you have to issue proper sale receipt andd delivery note duly mentioning the day, date and time of delivery of the vehicle to the new owner. You must insist the purchaser of the vehicle to transfer within specified period. The risk is that in case of any accident , if insurance is not covered, then the RC holder is liable to pay the entire compensation.
Thanks and regards
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Adv. S.A. Mohammed Rafi
Bangalore | 25+ Answers
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