Vehicle Sale Agreement Mumbai

It is a document made on behalf of the car buyer and is documented by the public notary. This is an agreement to transfer all liabilities from the vehicle to the buyer. After the date of signing this contract and after the transfer of the RC to the final purchaser, all risks related to the vehicle are transferred to the buyer. This document can be used as proof that you have given the vehicle to the buyer. From the buyer`s point of view, choosing a used vehicle has its own advantages – if the vehicle is reasonably new. For example, there are no high registration or insurance fees to pay, as is the case for new vehicles. The contract to sell the car is an agreement between a seller and a buyer. Buyers and sellers are collectively called parties. All terms and conditions are discussed between the buyer and the seller. Generally known as a pollution certificate under control, it is important because it certifies that your vehicle`s toxic chemical emissions are under control. It is carried out on the basis of smoke and emissions tests for petrol, diesel and CNG vehicles, while battery-powered vehicles are excluded from the test. You can have your PUC test performed at any approved test centre or on authorized gas pumps. The cost of the PUC is very low and is between 60 and 100 INR.

All vehicle information is mentioned, including license plates, manufacturing, year, registration validity, lifetime tax paid, insurance details, among others. The main clauses are the obligation for the buyer to transfer the registration as soon as possible to his name. The sworn insurance clearly states that the seller is responsible for all offences and claims on the vehicle until the time of delivery and that the buyer is responsible for this responsibility after that delivery. This clause ensures that the buyer drives responsibly until registration. 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. It can be noted here that the new owner of a used vehicle must be very careful when filling out the RTO forms. If there are sections that are not applicable, it should simply put an “N/A” instead of leaving the section empty.

The registration certificate, commonly known as RC, is proof that your vehicle is registered under the Indian government. It is not only mandatory for a quadricycle, but also has the same value for a two-wheeler. You must have it without flaws, printing errors and misspellings, otherwise you cannot transfer ownership of the car. If your RC has been lost or stolen, you must submit an FIR. However, you can fill out the RTO 26 form and apply for a double RC. 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. “If they are not there, they will reduce the resale value of your car.” 4-that the buyer in question is transferred to the vehicle on his behalf as soon as possible and bears all the costs that result. This is the invoice that is given by the point of sale/car dealership where you bought your car.

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