selling out a old car
Govind Sharma Parashar
(Querist) 05 August 2011
This query is : Resolved
Dear All,
what precautions one should take while selling out his car to an unknown person.
what document he should ask from the puchaser.
what verifications seller must complete before handing over car to the purchaser.
regards!
prabhakar singh
(Expert) 05 August 2011
1st.know whom you deal with,verify his voter id,passport,driving licence,ration card,pan card and have copies there of.
2nd.Get a bilateral sale deed executed and signed on proper stamp paper by both of you and get it notarized by a notary in duplicate and retain with you ,make it a term that buyer get the transferred in RTO records with in a time.
3rd.make a express covenant that from sale date buyer is liable for all uses of vehicle be accidents theft or any thing else you expect as risk.
M/s. Y-not legal services
(Expert) 06 August 2011
agree with mr.prabhakar.. even here you are only the seller. while being so the buyer only have to be aware..
RAJU O.F.,
(Expert) 08 August 2011
In the case of exchange of car for new, you may not know who is the purchaser or future user of the vehicle. While signing the dated sale letter, keep a copy of it with you duly acknowledged by the purchaser. Get a letter signed by him stating that he has purchased and taken delivery of the vehicle from you on such and such date. I don't think the purchaser would produce all the documents mentioned above by our learned friends.
