Intellectual Property Rights: Practice and Drafting by Adv Gautam Matani. Register Now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Documentation of purchase of second hand car

(Querist) 28 May 2008 This query is : Resolved 
I had purchased a car by way of benami transaction, wherein I had paid the Money but due to some difficulty ,I had Regisrteted itin my freineds name, though I am paying the Installments of the loan in respect of the said car through my freinds accounts. But now i aprehend that My freind may go against me. In such Circumstances I have Following queries
1. As of now my freind is ready to sign any Documents, What Document I need to prepare?
2. What legal documents are required to submitted to get my name registered in the Concerned R.T.O?
Thanx n Regards
Rajesh Sharma (Expert) 28 May 2008
Dear Mr Mohan

In case you are in a position to pay off the entire installments, then just go for it and take a no dues certificate from the bank through your friend and then get a sale letter executed by your friend in your name.
In case you are not in a position to pay off the outstanding dues in one go, then go for a tripartite agreement between your friend, the bank and of course you to bring the future dispute if any to an end at this stage.
Ashey (Expert) 03 April 2009
It is better to get the RTO transfer papers executed in your favour ..
Hiralal Das (Expert) 06 April 2009
Thanks all of you.
I do agree with views and/or valuable opinions of our ld. members/friends.

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :