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Change of Ownership for Car from One
08-Jul-2023 (In Civil Law)
Hi Sir,
Hope this finds you well.
Q. I have a car which is financed ( 7 years EMI - till 2021) in my name. I don't drive that car but my cousin uses it. Is it possible in any way if the ownership can be transferred in some way to another person name. Or any other solution through which the responsibility of driving, fines & Challans etc. can be fixed for other person. Maybe through a Power Of Attorney or any other solution.
As I don't drive it ever, I don't even have a DL, It was given to him as he couldn't get a loan, so I got the loan and gave the car to him.
He got a Challan & RC was impounded but I got to know about it only when I got a Summon from court.
Kindly provide some solution..
Thanks in advance..
The easiest way around this problem is for you to lease your car to your cousin by entering a car rental/lease agreement. A clause can be added to such rental agreement where your cousin will be responsible for all challans/legal proceedings.
Otherwise you can also sell the car to your cousin. But that will involve getting permission from the bank and registering his name on the RC.
Helpful?
As per the contents you have mentioned ,first you have to clear the loan then only you can transfer the car on his name ..by just selling the sale letter doesn't make go away if any case of accident or any challan case comes .. u have to clear the amount first and then u can transfer the car to any one you want to.
Helpful?
Adv. Deepti Dogra
Delhi | 50+ Answers
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