Perhaps the seller`s most important concern would be that the vehicle`s securities be transferred to the buyer as soon as possible. The absence of the latter could make the seller liable for injuries or accidents that occurred prior to such a transfer of ownership. All tralans for traffic violations are sent to the seller`s registered address. The worst nightmare for any seller would be the vehicle that lands in the hands of unscrupulous elements and is used for any criminal activity. Although such accusations may be refuted later, the pain and agony they initially engender are terrible. In order to avoid such unpleasant incidents in the future, it is advisable to obtain an affidavit for the sale of vehicles on behalf of the purchaser and to hold it in the possession of the seller. 2) You can count on your consent to show that the car was sold by you. An affidavit of sale of vehicles must be made on behalf of a buyer, as all risks associated with the vehicle must be passed on to the seller until the property is finally transferred through the relevant Regional Transportation Authority. Apart from the responsibility of credit, despite the agreement on stamp paper, I would continue to be responsible for the accident/crime on the same car. Contracting parties may include the compromise clause in this agreement. As part of the arbitration process, any dispute, if any arises between the parties, is referred to a third party (“arbitrator”) who is designated with each other by both parties. The arbitrator will hear from both parties and decide on the merits of the case.
The arbitrator`s decision is final and binding on both parties. If you plan to throw your old vehicle without reacting in your garage and have a boring wheel set After you like, make sure you don`t act hastily when selling the old vehicle. Apart from all forms used for the transfer of ownership, make sure you receive an affidavit for the sale of the vehicle, which was created on behalf of the buyer for your own safety. Keep in mind that safety comes first. If you are looking for a well-developed vehicle sales insurance, your search ends there. We also provide a number of legal documents online. Click the button below to get an affidavit for the sale of the vehicle. @Tech brother, it is best to visit the registration service, to transfer the car in the name of the buyer himself. My friend is a lawyer and he advised me to always pay attention to aviod any legal complications that might arise after selling a used car. To be a valid contract, both the seller and the buyer must correctly sign this agreement with the witnesses and execute it on a valid stamp document, as applicable in the state of execution of the agreement.
DO NOT DO INTO such an agreement, since the bank is not willing to transfer the loan, do not let your loan or EMIS pay to anyone else. Since you would leave the country, this person would probably not pay the credit and take advantage of the car to. Even because the EMI would not be paid, your financial rating would go away and you will never be able to use a loan in India. It`s best to remove all fees before you leave. As a rapidly growing economy, the volume of vehicle sales, old and new, is increasing in India. The result is also proper documentation and registration of vehicles, as well as the transfer of used vehicle titles. In more detail, the legal aspects of the sale of used cars are highlighted.