Sale of hypothecated vehicle

sandeep pilania (Querist) 01 October 2021 This query is : Resolved
Sir I want to sale my hypothecated vehicle very urgently due to financial problem. My 36 emi are pending and I want that buyer pay the all emi, so which type of agreement or sale deed should I make for legal purpose in haryana state rules
Please advice in detail
Thanks

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Quick Summary

If you need to sell a vehicle with outstanding EMIs in Haryana due to financial difficulties, you'll need a clear agreement with the buyer. The buyer would ideally pay off the pending EMIs directly. It's crucial to consult a local lawyer to draft the correct sale deed or agreement to ensure legal compliance in Haryana.

kavksatyanarayana (Expert) 01 October 2021
Is the buyer agreed to buy a hypothecated vehicle by paying EMI instantly? Only an agreement between the seller and buyer and the date of sale, sale amount etc. shall be mentioned in the agreement. Consult a local lawyer.

Dr J C Vashista (Expert) 03 October 2021
You are to clear dues before being sold out/ transferred to buyer.
It is not a legal dispute/ problem for consideration and obligation of experts.

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