How to Transfer Vehicle Ownership

If you are a resident of India and are willing to purchase a used bike, you will be required to take care of a few things. One of the most important factors is the transfer of ownership of the bike. This is an important prerequisite for obtaining a fresh insurance for your second-hand vehicle, and the process can be done at the applicable RTOs found across your city. Learn about transferring vehicle ownership and more in the following sections.

• The process of transferring the ownership of a bike is extremely easy and straightforward. Here’s a quick overview of the bike ownership transfer process:  

• Ensure that you get all the relevant documents from the seller. These include the sales receipt, road tax certificate, registration certificate, pollution certificate, insurance policy, and Forms 28, 29 and 30 duly signed by the seller. 

• In the case of the sale of a used bike, the seller has to submit the relevant form for bike ownership transfer, duly filled and signed by both the seller and the buyer, at the RTO where the vehicle was registered. 

• In the case of a transfer due to the death of the previous owner, the legal heir of the owner will be required to initiate the process.

• The transfer will be completed if the required transfer forms and documentation have been submitted to the RTO and the bike transfer fees have been paid within the allotted time frame.

• The ownership of the bike will be transferred from the seller to the buyer following the successful RTO verification.

 

In the case of the death of a bike’s owner, the legal heir is supposed to transfer the bike onto his name. Here’s a quick look at the additional documents that you would have to submit along with the ones above to effect the bike ownership transfer.

• Death certificate of the owner of the bike

• Form 30 and 31, duly signed by the transferee

• Succession certificate

• No Objection Certificate 

• Self-attested copy of the bike insurance policy

• Copy of the transferee’s PAN card or Form 60

• Seller’s signature identification

• Vehicle verification on Form 20

The bike ownership transfer costs are quite nominal and are not likely to have an impact on your wallet at all. Here’s how much a bike ownership transfer can cost you.

• RTO Charges

The bike transfer fees that RTOs levy are quite affordable, ranging from just ₹30-35 depending on the state where you effect the transfer.

• Smart Card Charges

Nowadays, RTOs all over the country are providing registration certificates in the form of a smart card. The charges for the smart card have been set at Rs. 200.

The transfer of a bike ownership is an important process that you must do as soon as you purchase a used motorcycle or a scooter. Delaying the process could potentially result in exorbitant fines being levied on you and may even lead to imprisonment. So, make sure that you complete the process in time.

 

If you’re interested in purchasing a new insurance plan, simply head to Bajaj Markets ‘s website. Over there, you can browse through an extensive list of bike insurance providers and plans, compare them with one another, and choose the one that best fits your needs and requirements. Don’t wait any further and get started with selecting the right insurance plan!